TUC boss Frances O’Grady has urged the government to widen the Bank of England’s remit to take account of unemployment before Threadneedle Street considers raising interest rates. Speaking before the start of the TUC’s annual congress, when the Bank governor, Mark Carney, will make a speech, O’Grady said the success of the Bank’s interest rate … Continue reading
Since the financial crisis “labour productivity has stagnated”, this has inevitably made the MPC “less confident about any forecast of productivity growth over the next few years” and meant that “output data are no longer sufficient statistics for inflationary pressure”. Ben argues that labour market data “give one a better steer about the evolution of … Continue reading
U.K. Prime Minister David Cameron defended Mark Carney after the Bank of England governor said that policy makers will review forward guidance next month. Carney, who said last year that unemployment would need to fall to 7 percent before the BOE would consider raising interest rates, has seen the jobless rate drop faster than forecast. … Continue reading
UK – MARK Carney, the new governer of the Bank of England, today vowed to keep the interest rate at 0.5 per cent until at least the end of 2016 unless inflation rises sharply Continue reading
Ben Broadbent, a member of the Bank of England’s Monetary Policy Committee, said the link between employment and inflation had proved “more stable” throughout the financial crisis than those between “either of those variables and output”. “We should … Telegraph.co.uk http://www.telegraph.co.uk/finance/jobs/9539737/Bank-of-England-should-focus-on-employment-data-says-MPCs-Ben-Broadbent.html Envoyé via Flipboard Envoyé de mon iPad
The UK has narrowly avoided a double-dip recession but will struggle for the rest of the year unless businesses stop hoarding cash and start investing, a forecaster warned today. Emergency measures from the Bank of England, European Central Bank and US Federal Reserve have boosted confidence and stabilised financial markets, pulling the UK back from … Continue reading
The GDP data revealed a worrying 5.6% decline in business investment in the last quarter of 2011 Let’s hope the euphoria that greeted last week’s economic data lasts longer than the cheers England’s footballers can expect this summer when the European championships get underway. There is nothing more traditional than football supporters putting hope ahead … Continue reading