Bank of England Appoints Former Goldman Sachs Analyst Huw Pill As Chief Economist
— Pill has also served at the ECB and the BoE LONDON (MaceNews) – Former Chief European Economist at Goldman Sachs, Huw Pill, will become chief economist at the Bank of England, the Bank revealed on Wednesday. Pill served at the investment bank until 2018 and has most recently lectured at Harvard Business School. Previously he […]
BOE’S Vlieghe Urges Extension of Loose Policy; Sets Stage for Debate at August MPC Meeting
By Laurie Laird LONDON (MaceNews) – A key Bank of England rate setter recommended an extension of loose monetary policy, teeing up what could be a vigorous debate at the next rate-setting meeting, after two officials have publicly made the case for tightening. “I think it will remain appropriate to keep the current monetary stimulus in […]
Bank of England Rate Setter Warns Against Tighter Policy
— “Economy not fully recovered,” says MPC member Jonathan Haskel By Laurie Laird LONDON (MaceNews) — The UK economic recovery is not sufficiently robust to warrant tighter monetary policy, according to rate setter Jonathan Haskel, placing him at odds with two colleagues who last week advocated for a rethink of extreme monetary accommodation. “My preference at […]
Bank of England Officials Hint at Earlier-Than-Expected Tightening
By Laurie Laird LONDON (MaceNews) — Two Bank of England rate setters have suggested that UK recovery has become sufficiently entrenched to warrant a reduction in monetary accommodation. Forward guidance set at the latest Monetary Policy Committee meetings “no longer rules out tightening,” said external MPC member Michael Saunders, adding that conditions on tightening policy “have […]
Bank of England Avoids Discussion of QE Exit Strategy at Latest Policy Meeting
By Laurie Laird — Sees rise in inflation as “transitory’ LONDON (MaceNews) – The Bank of England Thursday delayed any discussion of removing monetary stimulus at its latest policy meeting, characterising the recent rise in inflation as “transitory.” “Most” MPC members agreed that “sufficient conditions for any future tightening were not met … Policy should […]
Bank of England Governor: Unwinding of QE Could Begin By Discontinuing the Reinvestment of Proceeds
— Bank is carrying out a review as to how to best communicate a reduction in monetary support By Laurie Laird LONDON (MaceNews) — The Bank of England could call a halt to the reinvestment of maturing bond proceeds as a first step to reducing the extraordinary monetary accommodation extended to support the UK economy through […]
Bank of England Chief Economist Calls For Reduction in Monetary Stimulus
–Departing Rate-Setter See Inflation Above 2% By Year End LONDON (MaceNews) – The Bank of England’s chief economist amplified his calls for a slowdown in monetary support for the UK economy, predicting that inflation could top 2% by the end of 2021. “With the economy bouncing back, and with inflation risks on the rise, now […]
Bank of England to Slow Pace of Bond Purchases After Sharp Upward Revision to 2021 Growth
By Laurie Laird LONDON (MaceNews) – The Bank of England will reduce its pace of asset purchases as the UK’s aggressive vaccine campaign has allowed the gradual reopening of the economy. “As envisaged since the announcement of [the emergency quantitative easing programme in November 2020] and consistent with developments in financial markets since then, the pace […]
Bank of England Announces Departure of Noted Hawk
By Laurie Laird — Chief Economist Andy Haldane will depart in June LONDON (MaceNews) — Bank of England Chief Economist Andy Haldane will leave the Bank’s Monetary Policy Committee at the end of June, robbing the rate-setting body of one of its most hawkish voices. After 32 years at the Bank, Haldane will take over […]
Bank of England Chief Economist Haldane Flags Inflation Risk
By Laurie Laird LONDON (MaceNews) — A key Bank of England rate setter publicly queried the Monetary Policy Committee’s forecast of quiescent price pressures in 2021, warning against “central bank complacency” after a long period of below-target inflation. “My judgement is that we might see a sharper and more sustained rise in UK inflation than expected, potentially overshooting its […]