Posts Tagged MPC

Forward guidance is just another delusion foisted on us by mainstream macro

Forward guidance is just another delusion foisted on us by mainstream macro

The governor of the Bank of England, Mark Carney, was on good form last week when he appeared at the Treasury Committee of the House of Commons. Asked what “forward guidance” meant, he answered smoothly: “The thing about forward guidance is that it is guidance that is forward. Which

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Thank competition – not magical central bankers – for years of low inflation

Thank competition – not magical central bankers – for years of low inflation

Tempers are fraying at the highest levels of economic policy-making in the UK. Theresa May, at the Conservative Party conference, emphasised the “bad side effects” for savers of the Bank of England’s policy of near-zero interest rates, a position reinforced by former Tory leader William Hague in

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