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.... 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. ... [Read full article on Guardian ]
Thursday 20th of July 2017 02:20:35 PM
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....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. ... [Read full article on Guardian ]
Sunday 16th of July 2017 05:59:13 AM
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....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”:. ... [Read full article on Guardian ]
Tuesday 18th of July 2017 12:42:11 AM
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....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. ... [Read full article on Guardian ]
Thursday 20th of July 2017 02:21:55 PM
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....”. 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. ... [Read full article on Guardian ]
Tuesday 18th of July 2017 08:56:34 AM
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.... Even more so for those in the public sector, where a 1% pay freeze is in operation. The first thing economists are going to ask is whether the figures will shift opinion on the Bank of England’s monetary policy committee towards an interest rate rise. ... [Read full article on Guardian ]
Sunday 16th of July 2017 06:00:14 AM
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Latest Finance News related to Monetary Policy

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. ...
Did you hear the one about the inequality and the thinktank? image
Source : Guardian [Read Article] Monday 19th of June 2017 11:28:57 AM
....Three members voted against the other five and called for an immediate rise in borrowing costs to keep a lid on inflation. One of the hawks, Kristin Forbes, leaves the monetary policy committee at the end of the month – but investors will be hoping to hear from the other two, Ian McCafferty and Michael Saunders, soon. ...
Debt bubble returns millions to days of 2008 crash image
Source : Guardian [Read Article] Saturday 17th of June 2017 11:05:51 PM
.... So people are very much up to the line,” he said. Last week the Bank of England’s monetary policy committee left interest rates on hold but it took City analysts by surprise because three of the eight committee members wanted to raise them. ...
Bank of England doves right to thwart hawks seeking interest rate rise image
Source : Guardian [Read Article] Thursday 15th of June 2017 01:18:37 PM
.... Is this the right time for the Bank of England to be thinking about raising interest rates?. Well, three members of the Bank of England’s monetary policy committee think it is – the first time there has been a triumvirate in favour of dearer borrowing costs in six years. ...
Britons feel the squeeze as inflation rises to four-year high of 2.9% image
Source : Guardian [Read Article] Tuesday 13th of June 2017 08:37:27 AM
.... Inflation is well above the Bank’s 2% target, but policymakers have said they are happy to tolerate some overshoot because they want to support growth and employment as the UK prepares to begin Brexit negotiations. The Bank’s monetary policy committee (MPC) will meet this week to set interest rates and announce its decision at noon on Thursday. ...
UK household spending falls for first time since 2013 image
Source : Guardian [Read Article] Monday 12th of June 2017 04:30:17 AM
....Despite that overshoot, the Bank’s policymakers meeting to set interest rates this week are likely to reaffirm that they are happy to tolerate higher inflation for now as they continue to keep borrowing costs low to shore up growth and employment. The monetary policy committee will be one member short again this month after the resignation earlier this year of the Bank’s deputy governor, Charlotte Hogg, when it emerged she had breached the Bank’s code of conduct. ...
Take a bow Mario Draghi – has the ECB chief saved the eurozone? image
Source : Guardian [Read Article] Thursday 8th of June 2017 02:21:01 PM
.... That’s why falling unemployment is not being accompanied by higher wages, and it is also why underlying inflation remains weak. Ultra loose monetary policy can only do so much: it is a painkiller not a cure. ...
ECB forecasts higher growth but keeps rates on hold image
Source : BBC [Read Article] Thursday 8th of June 2017 12:05:28 PM
....Mr Draghi said it had made huge difference to lending across the eurozone: "Financing conditions remain extremely favourable, and this is because of QE. The pass-through of our monetary policy has never been so effective as it is today. ...
Pound V euro: GBP exchange rate against EU strengthens as Tories tipped to win election image
.... However the pound could plummet on Friday if Britain wakes up to find that the election has resulted in a hung parliament. Meanwhile the euro may tumble on Thursday as the European Central Bank (ECB) gathers for its latest monetary policy meeting. ...
Election rules hit Bank's recruitment as monetary policy committee shrinks image
....The Bank of England’s rate-setting team could be reduced to seven members for the first time in nearly 11 years as election “purdah” rules will delay appointments until at least next month. The Bank’s monetary policy committee (MPC) has eight members from the usual nine after deputy governor Charlotte Hogg was forced to resign in March for failing to declare her brother works for Barclays. ...
Far from ‘strong and stable’, May’s economic plan is weak and unstable image
....The “strong and stable” May has performed two U-turns in the past three months: on the budget plans to increase national insurance contributions for the self-employed and on the manifesto’s proposed dementia tax. A third U-turn – relaxing fiscal policy (cutting taxes or raising spending) so that monetary policy (interest rates) can be tightened would make a lot of sense and is long overdue. ...
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. ...

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