Search Results for: forward guidance

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 →

Adair Turner wrote arguing for helicopter money, as an alternative to lower, or negative interest rates, to stimulate the economy.  Paul Krugman comes down on the side of Adair, concluding that I have got confused about what effect a helicopter … Continue reading →

Prompted by Adair Turner in an exchange on Twitter, I read this paper of his delivered to the IMF.  The paper is one to set current and former central bank pulses racing. It’s a measure of how far the crisis … Continue reading →

So during the first of the two short slots I did last night on Bloomberg with Joe Weisenthal, it was put to me, via an audio of Paul Donovan at UBS, that Mark Carney was adopting too dictatorial a style. … Continue reading →

Here Martin picks up on the Haldane speech about negative rates, and some of us that criticised him for supporting that option to escape the confines of the zero bound. MS rightly points out that one would not need to … Continue reading →

That’s the conclusion of Richard Murphy’s latest blog.  He has latched onto the latest of dozens of speeches by central bankers pointing out that for one reason or another, they don’t expect the resting point of central bank rates to … Continue reading →

Mark Carney hints that interest rates may rise at the end of the year, and many of the more compressed media pieces on his intervention turn a hint about the obvious into something that sounds like a racing certainty.  For … Continue reading →

A few stream of consciousness points coming out of Thu Feb 12’s Inflation Report Press Conference. The MPC are determined to ‘look through’ the effects of commodity price falls, and describe balancing risks either side of their effects.  I don’t … Continue reading →

I couldn’t resist linking back to this article by Andrew Sentance, arch hawk and ex-MPC member, in the FT.  That was 2012, when, as he wrote, oil was ‘picking up again’, and back to about $125 a barrel.  How do … Continue reading →