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.... Economists warn that it was most likely a one-off and that whichever party forms the next government after the 8 June general election will be faced with a tough economic outlook as the UK’s main engine of growth, consumer spending, comes under pressure. Andrew Sentance, another former member of the Bank of England’s monetary policy committee, warned against reading too much into the latest retail sales data. ... [Read full article on Guardian ]
Thursday 25th of May 2017 11:12:55 AM
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. Professor of economics at Dartmouth College, New Hampshire, and member of the Bank’s monetary policy committee from June 2006 to May 2009. ... [Read full article on Guardian ]
Thursday 25th of May 2017 11:14:25 AM
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Latest Finance News related to Monetary Policy

Brexit economy: workers face squeeze but firms remain upbeat image
Source : Guardian [Read Article] Thursday 25th of May 2017 11:12:55 AM
.... Economists warn that it was most likely a one-off and that whichever party forms the next government after the 8 June general election will be faced with a tough economic outlook as the UK’s main engine of growth, consumer spending, comes under pressure. Andrew Sentance, another former member of the Bank of England’s monetary policy committee, warned against reading too much into the latest retail sales data. ...
UK inflation: How could latest figures impact an international property purchase? image
....Until recently it had been expected that the BoE would raise interest rates in order to counter the impact of surging inflation. However, the central bank is currently insisting that it’s prepared to look through higher inflation and leave monetary policy accommodative in order to support other areas of the domestic economy. ...
Jobs market will suffer a Brexit slowdown, say experts image
Source : Guardian [Read Article] Sunday 14th of May 2017 11:01:29 PM
.... This is much the same forecast that they made in each of the last 10 forecasts and these simply did not turn out to be true. “At the very least, the continual inability of the Bank monetary policy committee to learn from their forecast failures in the labour market increasingly brings into question their credibility. ...
BT deserves credit – clawing back boss's bonus is common sense | Nils Pratley image
....Some say Mark Carney will never get the chance to raise interest rates during his term as governor of Bank of England, which is due to end in June 2019. The man himself clearly doesn’t like the idea that the deliberations of the monetary policy committee will be a snooze-fest as far as the eye can see. ...
Bank of England warns Brexit vote will damage living standards image
Source : Guardian [Read Article] Thursday 11th of May 2017 11:14:34 AM
.... But it hinted that they may need to rise sooner than investors were anticipating if inflation continued to overshoot its target and as long as the Brexit process was “smooth”. The monetary policy committee was split for its second meeting running over the rates decision, with Kristin Forbes again voting against the other seven members and calling for an immediate rise to 0. ...
UK will face pay squeeze this year as inflation spikes, warns thinktank image
Source : Guardian [Read Article] Wednesday 10th of May 2017 04:57:33 AM
....Economists forecast that just one policymaker, Kristin Forbes, will vote for a rate rise to quell inflation, while the other seven members will consider the increase in prices to be temporary. Kirby said he expected the BoE’s monetary policy committee to keep rates on hold until after the UK has quit the EU in 2019 when it will start to rise towards 2% in the latter half of 2022. ...
Bank of England walks the tightrope over interest rates image
Source : Guardian [Read Article] Monday 8th of May 2017 06:00:55 AM
....Slower economic growth and higher inflation present Bank of England policymakers with a delicate balancing act when they meet this week to set interest rates and agree new forecasts for the UK as it goes through an election and Brexit talks. The Bank’s monetary policy committee (MPC) is widely expected to keep interest rates at their record low of 0. ...
The secret history of inflation, from Black Wednesday to Brexit image
Source : Guardian [Read Article] Sunday 7th of May 2017 05:59:25 AM
....This month sees the 20th anniversary of the granting by New Labour of independence to the Bank of England. It was not full-scale independence but “operational independence” in monetary policy: that is, the freedom to change interest rates without having to consult the chancellor. ...
The Guardian view on the Bank of England: independence and accountability | Editorial image
.... It is hard now to remember how serene life was for the Bank in the early days after it was granted operational independence. Stripped of its role as supervisor of the UK’s banks, the Bank effectively became a monetary policy institute, with the nine members of its monetary policy committee tweaking the cost of borrowing to hit the government’s inflation target. ...
‘There is significant risk’ UK facing debt bubble as Britons borrow another £1.6BILLION image
....”The Bank of England has now launched a review of consumer lending standards. The smaller growth in March compared to recent months, will be welcomed by monetary policymakers, according to Howard Archer chief economist at IHS Markit. ...
UK economy gets boost as service sector growth hits four-month high image
Source : Guardian [Read Article] Thursday 4th of May 2017 11:14:24 AM
....”. The reports will provide more mixed signals for the Bank of England’s monetary policy committee to debate when it meets to set interest rates and publish its latest forecasts for the UK economy next week. ...
Brexit economy: living standards are falling as the snap election looms image
Source : Guardian [Read Article] Tuesday 25th of April 2017 10:38:58 AM
.... Last week, the International Monetary Fund was forced to admit yet again that it had been too gloomy on the consequences of the Brexit vote as it revised up its UK growth forecast for the second time in three months. Writing in the Guardian, Andrew Sentance, a former member of the Bank of England’s monetary policy committee, said support for the UK from a strong global economy was being offset by domestic pressures. ...
‘Modest’ interest rate rise on cards, says Bank of England expert image
Source : Daily Express [Read Article] Friday 21st of April 2017 08:49:00 PM
.... . Mr Saunders, who sits on the Bank’s monetary policy committee, said inflation could hit three per cent by the end of this year while the economy could expand by two per cent. ...
IMF shifts from dismal to pessimistic, but has a sharper message about inequality | Greg Jericho image
.... The IMF suggests that our economy will improve along with similar commodity-exporting nations like Norway and Canada. But this is based on the proviso that monetary policy remains “accommodative” (ie interest rates stay low) and there are “supportive fiscal policies or infrastructure investment” and “less drag from declining investment in the commodity sector. ...
IMF ratchets up UK economic growth forecast to 2% image
Source : Guardian [Read Article] Tuesday 18th of April 2017 01:00:29 PM
....5% this year. It signaled, however, that the end of the Bank of England’s ultra-low monetary policy was coming to an end, predicting a “less gradual normalisation” of interest rates than six months ago. ...
Inflation is only going one way. Let's hope interest rates don't follow | Larry Elliott image
....In reality, it is a bit more complicated than that. The first thing the nine members of the Bank’s monetary policy committee have to decide is whether the above-target inflation seen in the last couple of months is a temporary blip. ...
Post-Brexit-vote surge for UK economy comes to an end image
Source : Guardian [Read Article] Friday 7th of April 2017 04:34:17 PM
....8% in the three months to March compared with a year earlier. “It’s now incontrovertible that the housing market has slowed sharply this year, indicating that the monetary policy committee’s interest rate cut in August provided only a temporary stimulus to demand,” said Samuel Tombs at the consultancy Pantheon Macroeconomics. ...
The lost generation: ‘I’m 30-something and still depressed and broke’ image
....Rejoice! Except people working in those shops are on zero-hours contracts and many young people swapped unemployment for days spent emailing into the threadbare abyss that is the gig economy. As monetary policy committee member Michael Saunders said in a speech on the labour market in January: “Some people may prefer flexible work structures or seek to reinvent their career through self-employment. ...
Mortgage tax relief cut doesn’t add up for buy-to-let landlords image
Source : Guardian [Read Article] Saturday 1st of April 2017 06:00:17 AM
....It’s not just landlord bodies that have expressed concern. In December Kate Barker, an influential economist, housing market expert and former member of the Bank of England’s monetary policy committee, told the Commons Treasury select committee that while she was generally supportive of the decision to increase stamp duty for people who were buying to let, she had more difficulty with the change to mortgage tax relief. ...
Thought Mike Ashley was hard to work for? Meet Jennifer Hardy image
Source : Guardian [Read Article] Sunday 26th of March 2017 07:00:24 AM
.... In any case, the buoyancy of the nation’s financial mood will be of some importance this week, when the GfK consumer confidence survey is unveiled. Currently, the figure is slightly more interesting than usual, as the Bank of England’s monetary policy committee seems to be paying attention to the topic, while Alan Clarke, head of European fixed income at Scotiabank, is relatively pessimistic about what might emerge. ...
Rising food and fuel prices hoist UK inflation rate to 2.3% image
Source : Guardian [Read Article] Tuesday 21st of March 2017 11:27:08 AM
.... Some see inflation rising to 3% by the summer. The Bank’s monetary policy committee (MPC), under the governor Mark Carney, has said it is happy to let inflation rise some way above its target as it balances the need to support growth and jobs with keeping price rises in check. ...
Low UK interest rates 'hurt productivity but saved jobs' image
Source : BBC [Read Article] Monday 20th of March 2017 08:03:10 PM
....However, holding rates would have imposed a "very significant macroeconomic cost" for unemployment, Mr Haldane said. "Should monetary policymakers have sacrificed 1. ...
Brexit Britain is suddenly debating trade – but it's the wrong talking point | Larry Elliott image
.... Tax is a particularly tricky issue because outside the EU it would be open to Britain to make radical changes to VAT. The boost to export competitiveness since Brexit is a demonstration of how the UK already has more monetary policy flexibility than those EU countries inside the eurozone: the EU 27 will want assurances that Philip Hammond and his successors will not exploit fiscal flexibility as well. ...
Rising prices set to push inflation over 2% Bank of England target image
Source : Guardian [Read Article] Saturday 18th of March 2017 03:59:43 PM
....25%. The Bank’s monetary policy committee (MPC), under governor Mark Carney, has maintained that it is happy to let inflation rise some way above its target as it trades off the need to support growth and jobs with keeping price rises in check. ...
Interest rate rise is further away than MPC vote suggests image
Source : Guardian [Read Article] Thursday 16th of March 2017 05:50:07 PM
....5%, there has been regular speculation in the City that borrowing costs are heading back up. The latest flurry of excitement was caused when Kristin Forbes broke ranks with her monetary policy committee colleagues and said something should be done about rising inflation. ...
Bank of England keeps UK interest rates on hold as it warns on inflation image
Source : Guardian [Read Article] Thursday 16th of March 2017 12:10:58 PM
....The Bank of England has held interest rates at their record low amid signs of an internal split emerging about how to tackle rising inflation. The Bank’s monetary policy committee was divided on the rates decision, with Kristin Forbes voting to raise borrowing costs immediately. ...
US raises benchmark interest rate by 0.25% image
Source : BBC [Read Article] Wednesday 15th of March 2017 06:29:37 PM
Charlotte Hogg resigns as Bank of England deputy governor image
Source : Guardian [Read Article] Tuesday 14th of March 2017 09:33:31 AM
....A departure date has not been agreed for Hogg, who is paid about £350,000 a year, but she is likely to stay for three months and waive any payoff. On Wednesday she cast her first vote on interest rates after taking up her seat on the monetary policy committee which came with the deputy governor role. ...
Charlotte Hogg: a family tree deeply rooted in the British establishment image
....She told MPs she took “full responsibility for the oversight” and that it was “regrettable” she had told them – erroneously – that she had already disclosed potential conflicts of interest. Her new role includes oversight of banking, as well a seat on the rate-setting monetary policy committee. ...
Savers urged to use THIS simple trick to beat dividend tax changes image
Source : Daily Express [Read Article] Thursday 9th of March 2017 04:32:00 PM
....Laith Khalaf, senior analyst at Hargreaves Lansdown, said: "Ordinary investors are now vulnerable to paying much more tax on their dividends unless they use tax shelters to protect their income-producing funds and shares. "This will be particularly galling for those investors who have turned to the stock market for income because the Bank of England’s monetary policy has obliterated the interest they were earning on cash. ...
ECB's Draghi says 'more optimistic' on the outlook for the eurozone image
.... . "That's something of a watershed moment - the end of the beginning in terms of unconventional monetary policy tools perhaps. ...
Bank of England deputy's slip-up was astonishing – but its reaction was predictable | Nils Pratley image
.... If 10% house price inflation had continued, the UK would have been heading into dangerous waters. The Bank of England’s monetary policymakers, already fretting about the rise in unsecured credit card debt, should be relieved. ...
Fed boss says US rates may rise in March image
Source : BBC [Read Article] Friday 3rd of March 2017 08:14:34 PM
....". However, she added, it was not a "preset course" and FOMC "stands ready to adjust its assessment of the appropriate path for monetary policy if unanticipated developments materially change the economic outlook". ...
Inflation returns to Japan for the first time in more than a year image
Source : Guardian [Read Article] Friday 3rd of March 2017 04:43:07 AM
.... But it won’t heighten much next year unless wages spike and boost spending,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. “The hurdle for hitting 2% inflation remains very high, which means the BOJ will maintain its ultra-loose monetary policy for the time being,” he said. ...
REVEALED: Winners and losers of Bank of England's money-printing programme  image
Source : Daily Express [Read Article] Thursday 2nd of March 2017 04:57:00 PM
....1 per cent of increases. Laith Khalaf, senior analyst at Hargreaves Lansdown, said: "UK monetary policy went through the looking glass eight years ago and has since only got curiouser and curiouser. ...
Eurozone inflation above European Central Bank's target image
Source : BBC [Read Article] Thursday 2nd of March 2017 11:32:34 AM
....9%. The ECB is due to meet next week, but Howard Archer, chief UK and European economist at IHS Markit, said: "We believe the ECB will remain wedded to its current monetary policy stance. ...
Wall Street stocks rise after Trump's corporate tax cut promises image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:42:20 PM
....The strength of the US economy also raised the prospect of an early interest rate rise, possibly following the Federal Reserve’s meeting later this month. New York Fed president, William Dudley, an influential figure on the central bank’s open market committee and close ally of chair, Janet Yellen, said the case for tightening monetary policy “has become a lot more compelling”. ...
When will Britons get a pay rise? image
Source : Guardian [Read Article] Sunday 26th of February 2017 03:05:50 PM
....Last week MPs asked four Bank policymakers how they could be so wrong year after year. They asked the question after the Bank’s monetary policy committee revised down the natural level of unemployment from 5% to 4. ...
The Bank of England fears it may not spot the next crisis. Here’s where to look image
.... When Gertjan Vlieghe cast his eyes down at the desk in front of him and said “we are probably not going to forecast the next financial crisis”, it was a moment of sorrow and self-reproach rarely seen from a Bank of England policymaker. Vlieghe is a member of the Bank’s monetary policy committee, alongside governor Mark Carney and seven others who set the UK’s base interest rate. ...
'The economy looks set to be slowing again' – experts debate Brexit watch data image
.... Hurt is returning for workers who inevitably will have to cut their spending. It surprised me, as it did the monetary policy committee, how much people were using up their savings to buy stuff, but this seems now to be coming to an end. ...
Why the Bank of England won’t raise interest rates any time soon image
Source : Guardian [Read Article] Saturday 18th of February 2017 05:00:07 PM
....Forbes, a US academic who craves a return to the “economic normality” of 4%-5% base rates, has consistently called for an increase, though never actually voted for one. After the summer, it could be that only Ian McCafferty is still inclined to raise rates among the Bank’s nine monetary policy committee members. ...
Brexit: the price of post-truth pounds in our pockets image
Source : Guardian [Read Article] Sunday 12th of February 2017 06:59:00 AM
.... No one is likely to kick up a fuss if the talent is imported. Meanwhile, public sector headhunters will also be out in force, searching for a new member of the Bank of England’s monetary policy committee, following last week’s announcement of Kristin Forbes’s decision to turn down a second term and return to her native US. ...
Bank of England appoints Charlotte Hogg as deputy governor image
Source : Guardian [Read Article] Thursday 9th of February 2017 05:57:26 PM
....Although Hogg lacks Shafik’s international connections at organisations such as the International Monetary Fund, the privately-educated, Oxford graduate will wield considerable experience of the domestic financial sector when she takes up her new position at the end of the month. She will sit on the monetary policy committee, the financial policy committee, the Bank’s court of directors and the board of the main City regulator, the Prudential Regulation Authority. ...
No big pay rises for Britons despite inflation, says Bank of England image
Source : Guardian [Read Article] Wednesday 8th of February 2017 12:15:18 PM
....Agents’ views have gained a higher profile inside Threadneedle Street in recent months after a series of attacks by senior politicians and Brexit campaigners accusing central bank staff of “ivory tower” policymaking. Critics have accused the Bank governor, Mark Carney, and the nine-member monetary policy committee (MPC) of being too pessimistic in their judgment on the impact of the referendum vote. ...
Trump's bonfire of banking rules could burn us all | Nils Pratley image
Source : Guardian [Read Article] Monday 6th of February 2017 07:14:50 PM
.... The world is digesting eight years of near-zero interest rates and quantitative easing and the after-effects are unknown. But a combination of loose monetary policy and financial deregulation has been a disaster in the past, with 2008-09 being only the most recent spectacular example. ...
Greek debt crisis: an existentialist drama with no good end in sight | Larry Elliott image
....Navarro’s specific criticism about currency manipulation is wide of the mark. Germany is part of the eurozone and doesn’t always agree with the monetary policy decisions taken by the European Central Bank. ...
For Carney, wages are the only true window to the future image
Source : Guardian [Read Article] Sunday 5th of February 2017 07:00:07 AM
.... But it is clear from his manner, and the tone of the Bank’s report, that there is little conviction behind this forecast. Maybe that’s because the monetary policy committee (MPC) he chairs appears to be even more split than usual on the subject of wages. ...
Trump’s honeymoon with the stock market will soon be over | Nouriel Roubini image
.... Inflation will then force even Janet Yellen’s dovish Federal Reserve to hike up interest rates sooner and faster than it otherwise would have done, which will drive up long-term interest rates and the value of the dollar still more. Third, this undesirable policy mix of excessively loose fiscal policy and tight monetary policy will tighten financial conditions, hurting blue-collar workers’ incomes and employment prospects. ...
Bank of England faces fresh embarrassment as tears up its forecasts | Larry Elliott image
.... Threadneedle Street is assuming that the higher imported inflation caused by the fall in the pound since the referendum is a one-off affair; that wage growth continues to be modest; and that consumer spending flags as prices in the shops go up. The Bank’s nine-strong monetary policy committee has decided to leave interest rates unchanged at their record low of 0. ...
Bank of England sharply raises UK growth forecast image
Source : Guardian [Read Article] Thursday 2nd of February 2017 12:46:31 PM
.... It also raised concerns about households becoming overstretched, as it predicted people would use savings to spend. At its rate-setting meeting the Bank’s monetary policy committee, led by governor Mark Carney, voted unanimously to hold interest rates at the record low of 0. ...
Japan rejects Trump accusation of devaluing yen in currency war image
Source : Guardian [Read Article] Wednesday 1st of February 2017 06:48:52 AM
....The Japanese leader will propose a raft of new investments in US infrastructure that would create hundreds of thousands of jobs in sectors such as high-speed rail and shale oil development, Kyodo news reported. Japan’s central bank has been pursuing a super-loose monetary policy since Abe became prime minister four years ago, as it attempts to encourage consumer spending and lift the world’s third biggest economy out of its deflationary spiral – measures that have yet to pay off. ...
Trump’s trade advis​​er says Germany uses euro to 'exploit' US and EU image
....Michael Hewson, chief market analyst at CMC Markets, said: “Any pretence that the US would be pursuing a so-called ‘strong dollar policy’ appears to have been blown to shreds today after Peter Navarro, one of Donald Trump’s top trade advisers, took aim at Germany for implicitly targeting a lower euro in order to give itself a competitive advantage over its main trading partners, sending the US dollar sharply lower. “While this overlooks the fact that the ECB sets monetary policy for the whole euro area, and not just Germany, this distinction isn’t likely to figure too highly with the new US administration, which seems determined to upset the status quo in any way possible. ...
Retreat from globalisation will destabilise the world economy | Mohamed El-Erian image
....Such economic lapses have contributed to the emergence of anti-establishment political movements that are looking to change – or are already changing – long-established cross-border trade relations, including those within the European Union and the North American Free Trade Agreement (Nafta). Meanwhile, a prolonged and excessive reliance on monetary policy, including direct central-bank involvement in market activities, has distorted asset prices and contributed to resource misallocation. ...
Smoot and Hawley, the ghosts of tariffs past, haunt the White House image
Source : Guardian [Read Article] Sunday 29th of January 2017 12:00:23 PM
.... A wave of land speculation followed and farmers took on debt as they looked to expand production. By the early 1920s farmers had found themselves heavily in debt and squeezed by tightening monetary policy and an unexpected collapse in commodity prices. ...
Final US growth figures under Obama are a triumph – for Trump  | Larry Elliott image
.... Obama’s first job in 2009 was to stop the bleeding: halt the rise in unemployment and stop businesses going bust. This was achieved through highly aggressive monetary policy from the Federal Reserve and a short-lived burst of fiscal activism. ...
UK GDP growth shows consumers spending despite Brexit worries | Larry Elliott image
.... Given that nobody in Whitehall was prepared for a vote to leave, the idea that Britain would start divorce proceedings straight away was highly unlikely. Nor was it really feasible that Mark Carney and the other eight members of Threadneedle Street’s monetary policy committee would sit on their hands. ...
Brexit economy: weak pound stokes inflation as jobs market cools image
Source : Guardian [Read Article] Wednesday 25th of January 2017 11:09:22 AM
.... Inflation was higher than economists had forecast, hitting its highest level for more than two years in December. Writing in the Guardian, a former member of the Bank’s monetary policy committee (MPC), Andrew Sentance, said two factors pointed to economic growth losing momentum: a slowdown in employment and rising inflation. ...
It’s time to rewrite the rules of economics to end the growing chasm of inequality  | Liam Byrne image
.... Thanks to Thomas Piketty and his colleagues, we also know that today’s kings are asset owners, not wage earners. Our combination of hyper-loose monetary policy and tight fiscal policy means that the asset-rich get richer while the asset-and-income-poor get battered. ...
Bank of England ‘keeping close eye on consumer spending’, says Carney image
....Debt charities said the signs of a credit boom that is close to levels not seen since the 2008 financial crash should set alarm bells ringing in Theresa May’s government. Carney did not elaborate on the rise in household borrowing but said the monetary policy committee would continue to monitor the situation. ...
Corbyn’s wage cap plan labelled unworkable but keeps pay on agenda image
Source : Guardian [Read Article] Tuesday 10th of January 2017 08:05:41 PM
....“Politicians simply do not know the right level of pay for the heads of multinational companies, and no successful economy operates with this level of intervention by government,” he added. David Blanchflower, who used to advise Labour and is a former member of the Bank of England’s monetary policy committee, said the idea was “totally unworkable” and a “lunatic idea”. ...
Jeremy Corbyn calls for maximum wage law image
Source : Guardian [Read Article] Tuesday 10th of January 2017 09:22:20 AM
....Danny Blanchflower, a former member of Corbyn’s economic advisory committee, said he would have advised the Labour leader against the scheme. In a tweet, the former member of the Bank of England’s monetary policy committee said it was a “totally idiotic, unworkable idea”. ...
One blunt heckler has revealed just how much our economists are failing us | Aditya Chakrabortty image
....There was nothing accidental about this result. It was precision-engineered by Cameron and Osborne: make central and local government deliver the cuts, and leave the job of securing a turnaround to the Bank of England with its one-size-fits-all monetary policy. ...
Chief economist of Bank of England admits errors in Brexit forecasting image
Source : Guardian [Read Article] Thursday 5th of January 2017 08:52:01 PM
.... And the forecast for growth in the UK economy, that was the lowest we have ever published. “We are still expecting this rather difficult balancing act for monetary policy with a slowing, not a huge slowing, but nonetheless a material slowing, during the course of next year as the effects of higher prices in the shops begin to chew away a little at the spending power of consumers and cause them to rein back a little in their spending. ...
Why has the UK economy defied predictions of doom? image
Source : Guardian [Read Article] Thursday 5th of January 2017 12:09:46 PM
.... Donald Trump’s tax-cutting agenda means the US economy is going to grow rapidly this year and that’s good news for UK exporters. Finally, the stance of both fiscal and monetary policy in the UK has become more growth friendly since the referendum. ...
Mark Carney's year in quotes: 'We are actors in a play written by others' image
Source : Guardian [Read Article] Wednesday 28th of December 2016 11:29:51 AM
....In February at a G20 meeting in Shanghai, Carney argued that central banks still had some firepower left to prop up the global recovery, but he warned that politicians must not rely solely on low interest rates and should use government policy to help boost growth. “Several commentators are peddling the myth that monetary policy is ‘out of ammunition’ … This is wrong, but the widespread absence of global price pressures demands that our firepower be well aimed,” Carney said. ...
Mervyn King: Britain better off going for hard Brexit image
Source : Guardian [Read Article] Monday 26th of December 2016 09:54:01 AM
....King’s comments were immediately welcomed by Nigel Farage, who said they were “wise words” that Britain could thrive outside the single market. However, a former member of the Bank’s monetary policy committee said Lord King’s intervention was “political” and should be ignored. ...
Fed's rate hike signals a déjà vu for 2017 image
Source : Guardian [Read Article] Friday 23rd of December 2016 08:00:11 AM
.... Central banks copied these policies and added regional flavour. Last year, Fed chair Janet Yellen anticipated “gradual adjustments in the stance of monetary policy” with a moderately-paced expansion of economic activity and strengthening of the labour market. ...
MPs are right to question Bank of England's monetary policy image
Source : Guardian [Read Article] Thursday 22nd of December 2016 01:26:00 PM
. A long, hard look at the way the Bank of England has conducted monetary policy since 2008 is long overdue so the announcement by the Treasury select committee that it is launching an inquiry into ultra-low interest rates, quantitative easing and forward guidance is welcome. ...
MPs to review Bank of England's low interest rates since crash image
Source : Guardian [Read Article] Thursday 22nd of December 2016 12:20:36 PM
....“Interest rates are stuck near zero, the Bank of England has used increasingly unconventional forms of quantitative easing, and inflation has been below the 2% target for three years,” he said. “The efficacy of monetary policy or otherwise, its unintended consequences, and its prospects, need careful examination. ...
Brexit economy: inflation surge shows impact of vote finally beginning to bite image
Source : Guardian [Read Article] Wednesday 21st of December 2016 11:36:14 AM
.... Consumers have become more cautious and they expect inflation to quicken over the coming year. Writing in the Guardian, a former member of the Bank’s monetary policy committee, David Blanchflower, said some of the data since the Brexit vote had come in better than he had feared but that there were signs this could be as good as it gets for the economy. ...

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