Andy Haldane, the BoE’s Chief Economist, gave a rather extraordinary speech yesterday (here). What was so extraordinary about it was just how off-message it was compared to the recent Inflation Report (which he oversees), MPC minutes and comments from Governor Carney at TSC. The MPC set-up not only allows for, but through the parliamentary process … More BoE: is a rate cut “extremely foolish” or even-money?
While we wait for the new era of BoE communications to begin later this year, meetings such as those tomorrow that have almost no chance of any policy change will continue to be dull affairs for those who are looking for the latest insight into the minds of the MPC. No policy change, no statement. So … More BoE: nothing to do, nothing to say
While a couple of weeks have passed since the BoE released the February Inflation Report, I thought it was still worth looking back at the salient points, and the messaging that has followed. The most significant message in the Inflation Report was that the Bank made explicit that it would “look through” the one-off falls … More BoE: closer to hiking than you might think