So the day I opine about QE in front of 100,000 experts in the FT – and start sending out draft copies for comment amongst a few friends – an MPC member delivers a speech on the same subject. In my nightmares, it starts with the words “Contrary to what some idiot wrote in the [...]
Posts Tagged ‘Quantitative Easing’
23 Feb
If the Bank is worried, why is it closing down the Special Liquidity Scheme?
The big news for students of the unfolding economic story is surely Mervyn King’s appearance before the Treasury Committee. As anyone reading the last Inflation Report* will gather, the Bank’s estimates for the economy has turned down. Today, specifically, he is worried that Europe’s weakness will impact on us. Other signs are weak, like lower [...]
17 Feb
I break resolutions quickly
I regretted calling Guido innumerate. And still do. And I like the way he is holding up lib dem tax policy as an example to all here. But his calling QE a ‘cost’ that can be compared to a tax cut is extremely confusing, in the light of his financial expertise. He writes: Imagine, and [...]
17 Feb
Quantitative easing: what is not happening
We are looking for an image to use on our report about QE. I will NOT be using on like this (from the Guardian): This is not what has happened. As the Bank’s latest MPC minutes has recognised, the money supply has not grown strongly. The last thing that has happened is that the man [...]
9 Feb
If you read anything today, read this by Tom Freeman
I reckon Tom Freeman’s excellent take on Sing a song of Six Pence is the winning entry SO FAR. Come on up.
8 Feb
QE in 462 words: the ballad of Mervyn’s shovel
There’s a long policy document about Quantitative easing due out soon. This is for those who don’t have the time. Apologies to those who can’t bear doggerell
4 Feb
Changing your mind about QE
Chris Giles’ excellent blog has highlighted the ‘rationalisation after the fact’ of QE – changing your mind about how it works. Taking the MPC minutes, they demonstrate how the emphasis has changed over time, using an amusing colour coded pair of tables. Their conclusions: it is obvious the Bank has flipped and flopped over the [...]
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