tag:blogger.com,1999:blog-34993014.post5386642230960378608..comments2024-01-13T10:12:47.756+00:00Comments on Ranting Stan: Smarter spending not more spending is what we needUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-34993014.post-39330096959982224702009-01-10T05:10:00.000+00:002009-01-10T05:10:00.000+00:00Another aspect of this is that the cost to banks o...Another aspect of this is that the cost to banks of borrowing money is not usually affected by the rate set by the MPC. The idea that banks borrow at base rate so a cut in that rate makes it cheaper for them is simply nonsense. When they borrow from each other they negotiate the rate and the outcome of those deals is reflected by LIBOR.TheFatBigothttps://www.blogger.com/profile/17255526385076528633noreply@blogger.com