Reuters
HSBC calls for higher rates to fight inflation
The chief executive officer of Europe's biggest lender yesterday called on central bankers to raise interest rates in order to combat inflation.
Michael Geoghegan, group chief executive officer at London-based HSBC Holdings, said central banks were not yet committed to taming inflation, and predicted US interest rates would rise after the US presidential election in November.
"Inflation is a long-term problem because there is no long-term will to solve it," Mr Geoghegan said during a speech organised by the Asia Society in Hong Kong.
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dr Frank Portelli MD FRCS(Ed)
May 28th 2008, 17:10
He would say that wouldn't he having just written off 3.2 billion dollars in the first 3 months of 2008 - being losses incurred in the sub prime market
Read poor risk assessment
http://news.bbc.co.uk/2/hi/business/7395425.stm
Dr Frank Portelli MD FRCS(Ed)