Category Archives: Uncategorized

On the assumption that the Monetary Policy Committee loosen at their August meeting, the question arises as to what unconventional policy might be undertaken. There is a clear indication in the July minutes that this is under consideration. I have … Continue reading →

Yesterday the Bank of England’s monetary policy committee decided not to cut interest rates, despite most forecasting that it would. There was an innovation in monetary policy communication however. Although it would not cut rates today, the minutes revealed that … Continue reading →

A theme in the aftermath of the referendum has been prominent Leavers’ outrage at the apparent lack of contingency planning for a vote to Leave on 23rd June. But I struggle to think what could have been done that would … Continue reading →

The MPC have now started deliberating about their next decision on interest rates and asset purchases. The outlook for the UK economy post Brexit  is not great, but not yet as bad as it could have been. We already have … Continue reading →

This morning on the Today programme we were told about the fact that both George Osborne and Alastair Darling agree that a post Brexit budget would involve tax rises and public spending cuts. This must be right in so far … Continue reading →

Hugo Dixon warns the EU against going for ‘more Europe’, and in particular fiscal union, if the UK votes to Leave, on the grounds that doing so would provoke a populist backlash.Looser fiscal policy is desirable instead, he writes. However, … Continue reading →

This is what Ruth Lea, a pro Brexit economist of some prior distinction, dubbed the apparent agreement of the overwhelming majority of economists, and the HMT/IMF/OECD/NIESR cabal, who happen to think that Brexit will be costly.  This morning, on Twitter … Continue reading →

The letter: [published in The Times, 11.05.16] Focusing entirely on the economics, we consider that it would be a major mistake for the UK to leave the European Union. Leaving would entail significant long-term costs. The size of these costs … Continue reading →

Jacob Rees Mogg, on the Treasury Committee, which holds the Bank of England to account, has called for Mark Carney to be ‘fired’ for his handling of the discussion of the risk of a short term shock to the economy … Continue reading →

The May Inflation Report was understandably dominated by the debate about the economics of Brexit. I thought that the BoE ducked a chance to be transparent about the consequences of a vote to Leave.  It chose to condition its forecast … Continue reading →