I’ve just watched the news tonight, and apparently today the Bank of England dropped the base interest rate to “one and half pence in the pound.”
I’m totally shocked — for comparison that’s the same as it dropping to one and a half cents in the dollar, or one and a half chetrum in the ngultrum, or 0.195 buns in the baker’s dozen.
If was measuring anything else but money, of course, it would be 1.5%.
What is it with economic journalists that makes them think nobody understands what percentage is? I’ve always wondered. Do the newspaper headline fonts not have the ‘%’ character? Is it not sensationalist enough to use dry mathematics terms instead of the more emotive “real world” monetary values?
Answers on the back of a ten ngultrum note please.