What will central bankers be discussing at Jackson Hole?

Today begins the main events at the annual symposium of the US Federal Reserve at Jackson Hole in Wyoming where the western world’s main central bankers meet up and discuss policy. As the credit crunch has developed so has this meeting’s importance. … Read More

Posted in Bank of England, European Central Bank, Federal Reserve, Forward Guidance, General Economics, Quantitative Easing and Extraordinary Monetary Measures | Tagged , , , , , , | 12 Comments

UK public-sector austerity has proved to be quite a disappointment on all fronts

One of the topics which regularly gets aired in the media is that of UK austerity which invariably involves a sub-plot along the lines of “cuts, cuts, cuts”. However whilst there is no doubt that there have been cuts -I … Read More

Posted in GDP, General Economics, Public finances, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues | Tagged , , , , | 25 Comments

What are the prospects for a Base Rate rise in the UK?

This thorny issue has been the subject of debate in the UK for pretty much all of 2014 as the economic recovery has continued. There is an obvious contradiction in persisting with what is an emergency Base Rate of 0.5% … Read More

Posted in Bank of England, Forward Guidance, General Economics, Inflation, Mark Carney, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues | Tagged , , , , , , | 27 Comments

Should the UK lower its inflation target to help real wage growth?

Today has seen the publication of the latest official numbers on UK consumer, producer and housing inflation. In case you are wondering why we get so many different measures on the same day then this is something which changed when inflation … Read More

Posted in Bank of England, Forward Guidance, General Economics, House Prices, Inflation, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues | Tagged , , , , | 12 Comments

What is happening to and in the economy of Ukraine?

The turmoil in Ukraine is hitting the news headlines on a daily fashion. We receive reports of fighting between government forces and rebels accompanied by tales of hardship and suffering. Added to this is the saga over the Russian humanitarian … Read More

Posted in Currency, GDP, General Economics, Inflation | Tagged , , , , | 6 Comments

How not to measure inflation in housing costs British style

The last 24 hours have seen quite a few developments on a subject which is dear to both my heart and my economic analysis. The issue of how to measure inflation and in particular how to deal with and measure … Read More

Posted in Bank of England, General Economics, House Prices, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues | Tagged , , , , | 32 Comments

What sort of Euro area future is wrapped up in a 1% benchmark bond yield?

It was only a week ago that European Central Bank President Mario Draghi was cheerily telling us that he was off to take a holiday in Italy. However the cheer will be on hold as he observes today’s data from the … Read More

Posted in Euro zone Crisis, European Central Bank, GDP, General Economics, Quantitative Easing and Extraordinary Monetary Measures | Tagged , , , , , | 9 Comments

What sort of economic recovery in the UK involves falls in average wages?

Today is an important day for the UK economy as we not only receive the latest Quarterly Inflation Report from the Bank of England but also the latest labour market statistics are revealed. The key number in both publications will … Read More

Posted in Bank of England, Forward Guidance, General Economics, Mark Carney, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues | Tagged , , , , , | 35 Comments

What is happening to Corpbank (KTB), Bulgaria and the concept of bank deposit insurance?

One of the major themes of this blog is the way that banks have moved from being a monetary transmission mechanism to being regarded by governments and authorities as something analagous to “the precious” in the Lord of the Rings. … Read More

Posted in Banks, Bonds, Euro zone Crisis, General Economics | Tagged , , , , | 8 Comments

What do we do in the UK if wage growth does not pick-up?

Last week was one where the news on the UK economy disappointed a little as we saw industrial and manufacturing production grow but more slowly than hoped and the NIESR reduce its quarterly GDP growth estimate to 0.6%. This week has … Read More

Posted in Bank of England, Employment, General Economics, House Prices, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues, Wages | Tagged , , , , | 26 Comments
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