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.... Change is coming. The majority on the Bank of England’s monetary policy committee against raising interest rates seems huge, confirmed at 7-2 last week. ... [Read full article on Guardian ]
Sunday 17th of September 2017 05:59:33 AM
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....Standard economic theory suggests that the correct monetary-policy response to such positive supply shocks depends on their persistence. If a shock is temporary, central banks should not react to it; they should normalise monetary policy, because eventually the shock will wear off naturally and, with tighter product and labour markets, inflation will rise. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 10:49:04 AM
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.... “The UK doesn’t so much export to Europe as through Europe; it is a supplier of components to final goods that are exported beyond the continent,” he said. Carney’s comments come after the Bank’s monetary policy committee (MPC) issued a surprise warning it could raise interest rates as early as November. ... [Read full article on Guardian ]
Monday 18th of September 2017 03:36:20 PM
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....20 in January – making US trips more expensive for UK holidaymakers. The pound’s rally was prompted by remarks from a member of the Bank’s rate-setting monetary policy committee (MPC), who had previously been regarded as one of the most dovish and most wary of a rate rise. ... [Read full article on Guardian ]
Friday 15th of September 2017 09:25:12 AM
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....Even one of the Fed’s own economists has questioned the impact of QE. “Evaluating the effects of monetary policy is difficult, even in the case of conventional interest rate policy,” St Louis Fed economist Stephen D. ... [Read full article on Guardian ]
Wednesday 20th of September 2017 06:10:52 PM
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....This could likely mean a dramatic increase in the cost of debt repayments, including mortgages and credit cards. It comes after monetary policymakers this week warned a hike will happen in the coming months if the economy continues on the same track. ... [Read full article on Daily Express ]
Saturday 16th of September 2017 03:49:00 PM
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....25% at which they were left Thursday – when the rate setters also dropped a heavy hint that the cost of borrowing could rise within the “coming months” should the economy continue to strengthen as expected?. When it did not move on Thursday, the Bank’s monetary policy committee (MPC) highlighted Brexit among the principal risks to the economy. ... [Read full article on Guardian ]
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Latest Finance News related to Monetary Policy

The great unwinding: Fed begins slow demise of its post-crash stimulus image
Source : Guardian [Read Article] Wednesday 20th of September 2017 06:10:52 PM
....Even one of the Fed’s own economists has questioned the impact of QE. “Evaluating the effects of monetary policy is difficult, even in the case of conventional interest rate policy,” St Louis Fed economist Stephen D. ...
Why central banks are not hitting their 2% inflation target | Nouriel Roubini image
Source : Guardian [Read Article] Tuesday 19th of September 2017 10:49:04 AM
....Standard economic theory suggests that the correct monetary-policy response to such positive supply shocks depends on their persistence. If a shock is temporary, central banks should not react to it; they should normalise monetary policy, because eventually the shock will wear off naturally and, with tighter product and labour markets, inflation will rise. ...
Fall in migration after Brexit could push up inflation, says Carney image
Source : Guardian [Read Article] Monday 18th of September 2017 03:36:20 PM
.... “The UK doesn’t so much export to Europe as through Europe; it is a supplier of components to final goods that are exported beyond the continent,” he said. Carney’s comments come after the Bank’s monetary policy committee (MPC) issued a surprise warning it could raise interest rates as early as November. ...
What will justify an interest rate rise in November? | Richard Partington image
Source : Guardian [Read Article] Sunday 17th of September 2017 01:38:31 PM
....25% at which they were left Thursday – when the rate setters also dropped a heavy hint that the cost of borrowing could rise within the “coming months” should the economy continue to strengthen as expected?. When it did not move on Thursday, the Bank’s monetary policy committee (MPC) highlighted Brexit among the principal risks to the economy. ...
Don’t dismiss bankers' predictions of a bitcoin bubble – they should know image
.... Change is coming. The majority on the Bank of England’s monetary policy committee against raising interest rates seems huge, confirmed at 7-2 last week. ...
Mortgage alert: Interest rates will rise FOUR times by end of 2018, economists forecast  image
....This could likely mean a dramatic increase in the cost of debt repayments, including mortgages and credit cards. It comes after monetary policymakers this week warned a hike will happen in the coming months if the economy continues on the same track. ...
Prospect of interest rate rise sends pound back to level of Brexit result day image
....20 in January – making US trips more expensive for UK holidaymakers. The pound’s rally was prompted by remarks from a member of the Bank’s rate-setting monetary policy committee (MPC), who had previously been regarded as one of the most dovish and most wary of a rate rise. ...
Northern Rock investors' compensation claim just doesn't stand up | Nils Pratley image
.... We’re still waiting for that important piece. At last, drama at the Bank of England’s monetary policy committee … or rather the promise of it. ...
UK interest rates stay at 0.25% but Bank of England hints rise is looming image
Source : Guardian [Read Article] Thursday 14th of September 2017 01:24:03 PM
.... A £200,000 mortgage would go up by £25 to £897. The Bank’s monetary policy committee (MPC), which sets borrowing rates, was split, with the external economists Michael Saunders and Ian McCafferty calling for an immediate rise to 0. ...
UK wage rises lag behind inflation despite lowest jobless rate since 1975 image
Source : Guardian [Read Article] Wednesday 13th of September 2017 10:07:10 AM
.... Employers were expected to halt recruitment, if not lay off workers, in response to slowing consumer spending and weak business investment. The Bank of England is not forecast to increase interest rates on Thursday when its monetary policy committee meets, though it is likely to warn that rising inflation might need to be calmed with a hike in credit costs should it persist into next year. ...
Murdochs' Sky bid isn't the slam dunk it looked a month ago | Nils Pratley image
Source : Guardian [Read Article] Tuesday 12th of September 2017 08:00:31 PM
.... Is that evidence of the stickiness of inflation? Or does it merely suggest that the effects of the post-referendum fall in sterling are taking time to wash through the system, especially in areas like clothing and footwear? Hard to say. For the time being, only votes at the Bank’s monetary policy committee matter. ...
UK cost-of-living crisis grows as dearer imports push inflation to 2.9% image
Source : Guardian [Read Article] Tuesday 12th of September 2017 09:36:14 AM
....The Bank of England will give its verdict on the economy on Thursday, when it will judge how much the pay squeeze from below inflation wage rises is having on GDP growth. In its most recent state-of-the-nation report, Threadneedle Street’s monetary policy committee (MPC) said it expected inflation to plateau at around 3% before falling back while wages were forecast to maintain their current upward trajectory, possibly bringing to an end the recent fall in real incomes by the end of the year. ...
To understand the UK's low-pay crisis, Mark Carney needs to get out more | Phillip Inman image
....In this scenario, a combination of few available workers and price rises in the shops will put huge pressure on employers to pay higher wages or risk unfilled vacancies. It is a message the monetary policy committee (MPC) is likely to repeat on Thursday when it makes its next judgment on the economy. ...
Politicians hand over power at their peril | David Kynaston image
Source : Guardian [Read Article] Saturday 9th of September 2017 11:04:20 PM
....By then, following the left’s increasing demonisation of Norman through the 1930s, the Bank had been nationalised in 1946 by the postwar Labour government. The move was essentially symbolic, but importantly so, and through the 1950s and 1960s monetary policy became increasingly politicised, with opportunistic chancellors often having an eye on forthcoming byelections and suchlike. ...
UK exports outside EU fall despite weak pound image
Source : Guardian [Read Article] Friday 8th of September 2017 10:42:19 AM
....But weak growth and the stuttering Brexit talks will probably convince them to stay put, according to economists. Philip Shaw, of City bank Investec, said the monetary policy committee will probably keep rates steady until 2019, while a rate hike this year is “very unlikely”. ...
Time to raise eurozone interest rates, says Deutsche Bank chief image
Source : Guardian [Read Article] Wednesday 6th of September 2017 07:15:46 PM
....”. His comments come ahead of the European Central Bank’s monetary policy meeting on Thursday, when remarks by the bank’s president, Mario Draghi, will be closely watched for any impact on the euro, which is approaching a three-year high of about $1. ...
As the UK economy sputters, it's all systems go in the eurozone | Richard Partington image
....It’s a better picture than the fire, brimstone and oblivion George Osborne forecast ahead of the Brexit vote, but Britain isn’t keeping pace with the corpse it’s unshackling itself from. The reason for the changed landscape? Brexit and the economic uncertainty it unleashed, according to David Blanchflower, a former member of the Bank of England’s monetary policy committee. ...
Bank of England's talk of rate rise while winding down QE beggars belief | Phillip Inman image
....Michael Saunders surprised many when he voted in June for the Bank of England to increase interest rates. The former Citigroup economist, who joined the Bank’s nine-strong monetary policy committee (MPC) last year as one of the four external members, warned that the UK economy was performing well enough for inflation to become a challenge. ...
Bank of England policymaker urges interest rate rise image
Source : Guardian [Read Article] Thursday 31st of August 2017 08:05:11 AM
....”. Saunders is one of eight members of the monetary policy committee, having joined last year from the investment bank Citigroup. ...
Your savings, your mortgage and your job depend on THESE bankers meeting in Wyoming today image
.... At the same time, markets will want Ms Yellen to give hints about when the US will next raise interest rates. Moves by both the ECB and the Fed, as well as the Bank of England, have huge ramifications on the future of monetary policy and could potentially signal an end to years of east and cheap money. ...
Brexit economy: outlook positive but rocky negotiations could bring instability image
....Two senior economics commentators have warned that the long-term outlook remains bleak. Writing in the Guardian, Andrew Sentance, a former member of the Bank of England’s monetary policy committee, said Britain appeared to be missing out on higher levels of growth seen elsewhere in Europe. ...
Quantitative easing is like heroin, says former Treasury official image
Source : Guardian [Read Article] Monday 21st of August 2017 12:50:12 PM
....In another reply to Harrison’s tweet, he appeared to suggest that QE was a “policy which is yielding diminishing returns”. Harrison said people are “waking up to the impending ECB slow-motion car crash” and that there were “political constraints on eurozone monetary policy starting to bite once again”. ...
Global investors look to Jackson Hole for signs of how QE will end image
Source : Guardian [Read Article] Sunday 20th of August 2017 12:03:19 PM
....The annual event, held at the Wyoming fishing retreat by the Federal Reserve Bank of Kansas City since 1978, takes place from 24 to 26 August. And it could provide the backdrop for the ECB president to signal the eventual withdrawal from loose monetary policy by the central bank. ...
UK pay growth picks up as unemployment rate falls again image
Source : Guardian [Read Article] Wednesday 16th of August 2017 08:36:46 AM
....The City responded to the unemployment and earnings data by pushing up the value of the pound against the dollar by half a cent on foreign exchanges. A tighter labour market is seen as strengthening the hand of the hawks on the Bank of England’s monetary policy committee, who are pressing for an increase in interest rates. ...
Pound falls against dollar as inflation comes in lower than expected image
Source : Guardian [Read Article] Tuesday 15th of August 2017 05:10:12 PM
....The latest CPI figures published on Tuesday could indicate inflation is getting close to its peak, according to economists, after the second unexpectedly lower number for the benchmark rate in the space of two months. Even so, the BoE’s monetary policy committee had said earlier this month it expected CPI to climb to about 3% in October before gradually retreating. ...
Pound V euro: GBP slumps against EUR as UK inflation holds steady image
Source : Daily Express [Read Article] Tuesday 15th of August 2017 11:43:00 AM
....". While inflation remains strong at the start of the third quarter, economists are still doubtful that the current level of consumer price pressures will prompt the Bank of England (BoE) to begin tightening monetary policy. ...
Japanese economy posts longest expansion in more than a decade image
Source : Guardian [Read Article] Monday 14th of August 2017 02:23:48 AM
....”. Abe has pledged to reignite Japan’s economy with a plan dubbed “Abenomics”, a package of reforms and government spending coupled with loose monetary policy from the BoJ. ...
Pay is finally edging up, says Bank of England report image
Source : Guardian [Read Article] Wednesday 9th of August 2017 05:39:17 PM
....25%. The August meeting of the Bank’s monetary policy committee (MPC) left interest rates unchanged but with two dissenting voices – Ian McCafferty and Michael Saunders. ...
Alistair Darling: 'RBS said it would run out of money in early afternoon' image
Source : Guardian [Read Article] Wednesday 9th of August 2017 07:59:03 AM
....“In the UK and most of the west the debt levels are more manageable now. We’ve yet to see how they will be affected by a return of positive interest rates, because we’ve had 10 years of super-expansionist monetary policy and we’ve yet to see how we can get out of that. ...
We let the 2007 financial crisis go to waste | Torsten Bell image
Source : Guardian [Read Article] Wednesday 9th of August 2017 05:00:01 AM
.... And why, in this day and age, is it still accepted practice for hotel workers to be given their shifts just a week ahead, when efficient companies around the world regularly plan months in advance?. Ten years of necessary ultra-loose monetary policy have left British households as addicted to personal debt and consumption as ever, posing a significant risk to growth if weak income growth continues. ...
Employment statistics tell skewed story about UK jobs market Katie Allen image
.... As the governor spoke, striking Bank staff protested outside over a below-inflation pay offer. His comments exposed a split on the Bank’s monetary policy committee. ...
Only a big-spending budget can save us from years of low interest rates image
Source : Guardian [Read Article] Saturday 5th of August 2017 04:00:16 PM
....The Bank of England clearly thinks it would be wrong to follow the institute’s advice. At the meeting of its monetary policy committee last week, a majority voted to keep rates on hold. ...
SHOCK WARNING: Interest rates could soon RISE, Bank of England deputy says image
Source : Daily Express [Read Article] Friday 4th of August 2017 04:00:00 PM
...."Meanwhile the FCA is warning that 2. 2 million borrowers are in financial distress, despite ultra-low interest rates, which means the Bank of England is going to have to remove the sticking plaster of loose monetary policy very slowly indeed. ...
The Bank keeps hinting at a rate rise. Markets will only listen for so long image
.... It acts like a dove. Those in the City expecting the Old Lady to do what it has not done for a decade – raise interest rates – would have been brought up short by the latest decision of its monetary policy committee. ...
Brexit is putting firms off giving pay rises, says Bank of England image
Source : Guardian [Read Article] Thursday 3rd of August 2017 11:13:47 AM
....75% over the next three years. The minutes said: “If the economy were to follow a path broadly consistent with the August central projection, then monetary policy could need to be tightened by a somewhat greater extent over the forecast period than the path implied by the yield curve underlying the August projections. ...
The day the credit crunch began, 10 years on: 'the world changed' image
Source : Guardian [Read Article] Wednesday 2nd of August 2017 04:15:56 PM
.... The shortcomings of Labour’s tripartite system of regulation – and the tensions within it – were exposed. Powers were shared by the Treasury, the Bank and the new Financial Services Authority after the changes in 1997 when the central bank was given control of monetary policy but stripped of oversight of the big lenders. ...
UK economy is about to surge back to life, says leading forecaster image
Source : Guardian [Read Article] Tuesday 1st of August 2017 11:01:30 PM
....The Bank of England’s governor, Mark Carney, shocked financial markets in June when he warned that continued growth in the UK economy would eventually lead to higher interest rates, but is not expected to say this week that it will come as early as next spring. After the Brexit vote, the Bank’s monetary policy committee cut the base rate as an emergency measure from 0. ...
Last-minute talks bid to halt first Bank of England strike in 50 years image
....The industrial action is scheduled during a busy week for the governor. He will chair a meeting of the monetary policy committee, at which interest rates are expected to be left unchanged at their record low of 0. ...
Slow economic growth is not the new normal, it's the old norm | Larry Elliott image
.... And there they are likely to stay. When the Bank’s monetary policy committee last met, three of the eight members said the post-referendum stimulus had done its work, making it possible to push rates back up to 0. ...
Lenders must stop stoking demand for loans: or there’ll be another firestorm image
....To an extent, rising consumer debt is a problem of the Bank’s own making. Its monetary policy committee has kept interest rates at 0. ...
Chancellor appoints Sir David Ramsden to Bank of England deputy role image
Source : Guardian [Read Article] Thursday 27th of July 2017 05:28:15 PM
....Philip Hammond has filled the vacancy on the Bank of England’s interest rate setting committee left by the departure of Charlotte Hogg, following the appointment of Sir David Ramsden as the central bank’s new deputy governor. The chancellor said Sir David, who is the Treasury’s chief economic adviser, would take up the role as deputy governor of markets and banking, making him Threadneedle Street’s eyes and ears on the banking sector while also giving him a position on the nine-strong monetary policy committee (MPC). ...
Britons sit on ‘ticking time bomb’ as interest rates HIKE risks financial security image
.... . Last month, the Bank of England’s monetary policy committee (MPC) narrowly voted 5-3 to hold interest rates at 0. ...
Debt-ridden families a ticking time bomb for EVERYONE in Britain, Bank of England warns image
....5 per cent, Alex Brazier said in a stark warning. It comes after monetary policymakers slashed interest rates to just 0. ...
'Britain is fast becoming the sick man of Europe' – experts debate Brexit data image
. Professor of economics at Dartmouth College, New Hampshire, and member of the Bank of England’s monetary policy committee from June 2006 to May 2009. ...
Brexit economy: sterling fall hits public finances and fails to boost trade image
....9bn. David Blanchflower, a former member of the Bank of England’s monetary policy committee and professor of economics at Dartmouth College in the US, said: “Once again this month, there is only thin economic gruel in the data. ...
Warm weather drives UK shoppers back to the high street image
Source : Guardian [Read Article] Thursday 20th of July 2017 02:21:55 PM
....Alan Clarke, an economist at Scotiabank, said a rise in retail sales in June was unlikely to convince Bank policymakers that the time was right to raise interest rates. “While today’s reading is welcome news and may limit any further downside to GDP growth during the second quarter, I doubt that the middle ground on the Bank’s monetary policy committee is going to get more hawkish on the back of sales of paddling pools and flip-flops,” he said. ...
The cost of living crisis is down to Brexit. The chickens are coming home to roost | David Blanchflower image
.... Business confidence has fallen and is now at its lowest point for almost six years, the economic consultancy IHS Markit reports. The question for the UK’s monetary policymakers is what they should do when inflation is high but the economy is slowing, as occurred in July and August 2008, although on a much worse scale. ...
Shares in Asia head for 10-year high on back of US profit surge image
Source : Guardian [Read Article] Thursday 20th of July 2017 04:19:56 AM
....At Thursday’s meeting, the central bank may drop a reference to its readiness to increase the size or duration of its asset-purchase programme before announcing in the autumn how and when it will start winding down its bond buying. “The euro has surged enormously on the back of hopes that the ECB is going to start the process of shutting the door on loose monetary policy,” Naeem Aslam, chief market analyst at ThinkMarkets UK, wrote in a note. ...
Lower fuel prices slow pace of UK inflation image
Source : Guardian [Read Article] Tuesday 18th of July 2017 08:56:34 AM
....”. Andrew Sentance, a former member of the Bank of England’s monetary policy committee and a senior economic adviser at the accountancy firm PwC, said inflation was likely to rise again in the coming months, reaching at least 3% in the second half of the year as the fall in the pound works its way through to shop prices. ...
If home ownership continues to shrink, the retirement system is in trouble | Greg Jericho image
....80:. Now in the context of the past few years, that is not all that high, but it is higher than the RBA would like given it has repeatedly noted in its statements on monetary policy decisions of the benefit of the falling exchange rate since 2013 and that “an appreciating exchange rate would complicate this adjustment”:. ...
Aramco may be big, but fawning to Saudis diminishes London image
Source : Guardian [Read Article] Sunday 16th of July 2017 06:00:14 AM
Election euphoria won’t last if Labour doesn’t foil Brexit folly image
Source : Guardian [Read Article] Sunday 16th of July 2017 05:59:13 AM
....The economic miracle that was supposed to follow austerity has most certainly not occurred. Every day brings news of economic slowdown and mounting concern at the Bank of England about the wisdom of tightening monetary policy in the face of the gathering British economic storm. ...
Key Bank of England policymaker 'not ready' for interest rate rise image
Source : Guardian [Read Article] Wednesday 12th of July 2017 05:45:21 PM
....The Bank of England should resist increasing interest rates while the direction of the economy remains unclear, according to one of the central bank’s senior policymakers, an announcement that reduces the chances of a rate hike this year. Ben Broadbent, a close ally of BoE governor Mark Carney, said he was not ready to raise interest rates while the the bank’s monetary policy committee (MPC) found it “very difficult” to judge whether there had been a significant improvement. ...
UK interest rates aren't about to rise as real pay slides | Larry Elliott image
.... The Old Lady has been showing a bit of leg, that’s all. If there was any serious doubt about the outcome of the August meeting of the Bank’s monetary policy committee, the latest news from the labour market puts the issue to rest. ...
UK pay squeeze intensifies as real wages continue to fall image
Source : Guardian [Read Article] Wednesday 12th of July 2017 10:35:05 AM
....“This is having a negative impact on household spending. With uncertainty gathering over the Brexit negotiations, the Bank of England’s monetary policy committee would need to see a distinct improvement in earnings growth towards 3% and above, to be in a position to raise interest rates. ...
Political upheaval will lead to UK economy slowing down, says Moody's image
Source : Guardian [Read Article] Tuesday 11th of July 2017 12:51:23 PM
....A number of MPC members – including the governor, Mark Carney, and the Bank’s chief economist, Andy Haldane – have given their views on the outlook for borrowing costs in recent months. Broadbent voted for official interest rates to remain on hold at the MPC’s last meeting in June and his failure to mention monetary policy was seen by the City as a sign that he will vote the same way again in August. ...
Spending falls at fastest rate for four years as consumers tighten belts image
.... She said that the weak outlook for pay was likely to discourage the Bank of England from raising interest rates for the time being. “The lack of upward momentum in pay growth, in several economies including the UK and US, has been a central talking point of late as policymakers debate the cause of this and what this implies for the stance of monetary policy,” she said. ...
Bank of England: pay figures will fuel raging interest rate debate image
Source : Guardian [Read Article] Sunday 9th of July 2017 09:10:15 AM
....5%, which would remove some of the emergency stimulus the Bank injected into the economy after the Brexit vote. The other five members of the monetary policy committee outvoted the hawks, however, preferring to leave the base rate at 0. ...
In other circumstances, we’d raise rates. But with Brexit looming, how can we? image
.... Two more rises could follow in 2018, should the expected inflationary pressures stay in place. Michael Saunders, one of the three policymakers to vote for a rise at the monetary policy committee’s meeting last month, qualified his call for a rise when he told the Guardian: “If rates do go up, it will be in the context of the economy doing OK and unemployment being low and probably falling. ...
Fears for UK economy after weaker-than-expected growth reports image
Source : Guardian [Read Article] Friday 7th of July 2017 11:37:06 AM
....A trio of weaker-than-expected reports from the Office for National Statistics left traders scrambling to scale back earlier bets that policymakers could raise interest rates by the end of 2017 and perhaps as soon as next month. “The data releases of the past week will help to dissuade the UK’s monetary policy committee from a near-term rate hike,” said Victoria Clarke, economist at Investec. ...
UK services sector growth hits four-month low amid Brexit fears image
Source : Guardian [Read Article] Wednesday 5th of July 2017 11:39:28 AM
....Some analysts said the weak set of figures indicated a broad softening in activity across the economy that was likely to dent the enthusiasm of Bank of England policymakers who have proposed increasing interest rates. Earlier this week, monetary policy committee members Michael Saunders and Ian McCafferty said persistent inflation and strong employment growth needed to be calmed by higher interest rates. ...
Bank of England's Michael Saunders: 'Prepare for higher interest rates' image
....Michael Saunders used a Guardian interview to explain why he had voted for a rate rise last month and to emphasise that it was no longer necessary for Threadneedle Street to keep its foot to the floor with record low borrowing costs. The external member of the monetary policy committee (MPC) said the economy had confounded gloomy forecasts made in the aftermath of the referendum and he warned inflation would climb higher and stay well above the Bank’s target for longer without action. ...
Can the Bank get Britain to kick its cheap credit habit? image
Source : Guardian [Read Article] Saturday 1st of July 2017 03:00:02 PM
....Barker also worries that regulators are examining discrete areas of credit risk rather than taking an overview of the long-term effects of almost zero interest rates on household and corporate behaviour. Issues tend to be tackled in silos – with the Bank’s financial policy committee (FPC) looking at credit risk, and the monetary policy committee (MPC) examining broader economic risks, despite several officials sitting on both. ...
BoE economist wants to hear about hardship in the UK - first stop Wales image
Source : Guardian [Read Article] Thursday 29th of June 2017 06:26:47 PM
....Andy Haldane, the Bank of England’s chief economist is in Wales, on tour. But this is not the usual speechifying trip, addressing business audiences on the dry details of monetary policy. ...
Pound leaps as Carney says growth will be factor in interest rate debate image
Source : Guardian [Read Article] Wednesday 28th of June 2017 03:15:46 PM
....Although Carney broadly reiterated his “wait and see” approach to interest rates, the pound was trading at just below $1. 30 amid speculation that the Bank’s monetary policy committee would over the coming rescind the emergency quarter-point cut in interest rates after last summer’s Brexit vote. ...
Google fine: EU is not waging underhand trade war against ​​US tech firms | Nils Pratley image
....4bn of capital over the next 18 months to cover lending mistakes that, in practice, may or may not materialise. Wouldn’t it be easier to raise interest rates as a way to tell overstretched consumers to go easy on the credit? It could still come to that in theory – “monetary policy is the last line of defence to address financial stability issues”, the governor, Mark Carney, reminded his audience – but the Bank’s tweak with the buffers is a better formula. ...
UK banks ordered to hold more capital as consumer debt surges image
Source : Guardian [Read Article] Tuesday 27th of June 2017 09:44:48 AM
....25% after Brexit – and financial policy instruments. “Monetary policy is the last line of defence to address financial stability issues,” he said, with monetary policy focused on keeping inflation at its target rate of 2% rather than controlling lending. ...
Maxed-out consumers of concern to Bank of England image
Source : Guardian [Read Article] Sunday 25th of June 2017 06:00:22 AM
. We have heard plenty from the Bank of England’s monetary policy committee of late, with its members divided over how to set interest rates in a post-referendum Britain. ...
Uber and the ‘brogrammers’ feel the consequences of changing the world image
....Kristin Forbes, who is about to be replaced by London School of Economics academic Silvana Tenreyro, has long argued for higher rates as a way of arming the central bank for the next financial war. She popped up on Thursday to accuse her colleagues on the monetary policy committee of keeping rates low by virtue of a colossal misjudgment. ...
Inflation needs to be checked with rate increase, says MPC member image
Source : Guardian [Read Article] Thursday 22nd of June 2017 06:01:21 PM
....A Bank of England policymaker has heaped further pressure on Mark Carney, the governor, with a warning that the central bank’s policymakers have failed to spot an inflationary spiral that needs to be choked off with an immediate increase in interest rates. In the same week that Andy Haldane, the chief economist, said he was considering voting for an increase in rates before the end of the year, Kristin Forbes, an outgoing member of the monetary policy committee, used her valedictory speech to say the governor and a majority of the other MPC rate-setters were wrong to believe inflation would peak soon and then retreat, allowing rates to stay low. ...
Brexit economy: UK faces slowdown amid living standards squeeze image
Source : Guardian [Read Article] Thursday 22nd of June 2017 11:01:36 AM
.... But the Bank’s chief economist, Andy Haldane, said it would be prudent to tighten policy before the end of the year. David Blanchflower, another former member of the Bank of England’s monetary policy committee, said political uncertainty was making life hard for policymakers as well as consumers and businesses. ...
Bank of England rift as chief economist ponders interest rate rise image
Source : Guardian [Read Article] Wednesday 21st of June 2017 11:09:59 AM
. Signs of a deepening rift on the Bank of England’s monetary policy committee have emerged after Threadneedle Street’s chief economist revealed he seriously considered opposing the governor, Mark Carney, and voting for an interest rate rise earlier this month. ...
Why is productivity so low since the crisis – particularly in the UK? | Howard Davies image
.... Maybe we have reached a point at which the productivity boost from internet-based technology has been cashed, and we need another technological leap to move forward again. But one key challenge for central banks, as we edge towards the normalisation of interest rates, will be to develop a framework for thinking about the impact of monetary policy on the allocation of capital. ...
Brexit critic joins Bank of England interest rate-setting committee image
Source : Guardian [Read Article] Monday 19th of June 2017 03:47:58 PM
....Silvana Tenreyro was one of 280 economists who signed a public letter ahead of the referendum last year stating it would be a “major mistake” for Britain to leave the EU. She will replace the US economist Kristin Forbes who leaves the monetary policy committee (MPC) this month. ...

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