05 June 1998
Sheep farmer blamed for
interest-rate rise vote
A FORMER London School of Economics professor, who is a part-time sheep farmer, has been blamed for pushing up the cost of borrowings for the first time since November.
The vote by Charles Goodhart, who sits on the Bank of Englands monetary policy committee, was believed to be the deciding factor. The committee is made up of academics and central bankers and its remit is to set the level of interest rates.
Mr Goodhart was last month opposed to an interest rate rise but supposedly changed his mind yesterday. Official interest rates have increased by .25% to 7.5%.
- The Guardian 05/06/98 page 1