Search Results for: forward guidance

I’ve been struck by the activities of the Conservative Party Twitter rebuttal machine on economics, ‘Tory Treasury‘ on Twitter, who Danny Blanchflower calls ‘aka Rupert Harrison’.  (He being Osborne’s chief of staff). One theme today was portraying the Labour fiscal … Continue reading →

At the next Monetary Policy Committee vote, most are expecting Martin Weale and Ian McCafferty to vote for a 0.25pp rise in interest rates.  They have been voting for just this since August. The curious thing, if you look at … Continue reading →

A quick Bank of England Inflation Report Press Conference Post Mortem. The headline seems to be that MPC is forecasting a larger, protracted deviation of CPI inflation below the 2 per cent target.  That is despite some softening in the … Continue reading →

Roger Farmer has a great post showing how the maturity composition of outstanding US debt lengthened as the Fed embarked on its program of buying long dated securities.    As Summers reportedly put it, while the Fed was engaged in quantitative … Continue reading →

A long-time risk of simply the possibility of a Yes vote for Scottish independence, let alone the actuality, is that investment would dry up in Scotland, and perhaps in the rest of the UK;  deposits and wholesale funding for Scottish … Continue reading →

John Cochrane recently responded on his blog to the news that Congress were going to debate that the Fed be required by legislation to choose a monetary policy rule, and stick to it, justifying when and why it departs from … Continue reading →

No. But, as John Taylor alerted us in his blog, a new bill has been introduced that would have this effect, if passed.  I presume that this is one of those bills that no-one expects to pass, but is put … Continue reading →

The Bank for International Settlements siren calls that central banks around the world should be raising nominal interest rates to choke off an orgy of risk taking grabbed more attention on the chatosphere than I expected, since this is what … Continue reading →

Yesterday [24 June] Mark Carney’s doveish remarks at Treasury Committee – particularly the emphasis on weak nominal wage growth – caused the yield curve and Sterling to fall.  This was but 12 days since his Mansion House speech, where, surely … Continue reading →

Andrew Haldane’s first speech as a monetary policymaker is built around a cricket metaphor.  It seemed de rigeur that any response followed suit.  But all I could manage was this pretty silly and mostly inappropriate pun in the title – … Continue reading →