Willem Buiter, a founding member of the Bank of England’s Monetary Policy Commitee, is living it large at present. The professor’s opinion is a much sought after commodity as he basks in the glory of having correctly forecast the last BOE rate cut of 150 bps. Speaking to The Telegraph Buiter has said “I expect rates to be cut to zero before long, the reason why this will not be done in one go but in two or three is because they’ll be worried about what it would do to the pound.” He sees rates at zero in January or February of next year. Interestingly regarding sterling, the professor said “When you get to $1.30 you are no longer talking about a welcome adjustment and competitive advantage, it’s a rout.” Recently Charles Bean, the Bank of England’s Deputy Governor for Monetary Policy, stated that the depreciation of the pound should provide a welcome boost for exports, but conceeded that sterling would become a concern if it fell to a certain level. Mr Bean however, not surprisingly, refused to comment on what level that might be. $1.30 anyone???