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Author Archives: Tony Yates
Why there should be no more fiscal stimulus
In the last year, the protracted weak activity data in the Eurozone, and in the UK, has emboldened those who thought that ‘austerity’ policies were misguided, and that think that a renewed fiscal expansion will help solve the problem. I think … Continue reading
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A look back at the March HMT Review of the MPC remit
This post takes a look back at the Treasury’s review of the Monetary Policy Committee’s Remit, published in March. This might seem like old news. But it is soon to be highly topical, as one of the outcomes of the … Continue reading
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Forward guidance on forward guidance?
There are two ways to read today’s statement by the Bank of England’s Monetary Policy Committee, accompanying its decision to do no more QE, and leave rates at their agreed floor. One is that it is advance warning (forward guidance) … Continue reading
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Why forward guidance could be a step backward
Mark Carney’s arrival as Governor, and his well publicised support for the policy of ‘forward guidance’, has had markets guessing whether he will be able to sway other Monetary Policy Committee (MPC) members to pursue this in the UK. ‘Forward … Continue reading
