Tuesday, Nov 10, 2009
Qe down from £6 billion per week
Thisislondon: Let’s hope that the Bank of England finally gets it right
Posted by mken @ 02:04 PM (1127 views) Add Comment
14 Comments
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1. hpwatcher said...
Let’s hope that the Bank of England finally gets it right
BOE are only doing what those in the US are doing and hoping for the best......blowing bubbles.
2. jackas said...
Looks rather like an old man's old man that chart doesn't it?
Is it a picture of what Merv is seeing?
3. brickormortis said...
This has to be my favourite graph of all time -and I have a lot of favourites! :@)
I thought I was the only one recording the BoE and government predictions for GDP "growth".
4. mark wadsworth said...
Has he branched out into gynaeocology?
5. will said...
Merv said, "just when will it hit the floor?"
6. Cusinvinnie said...
Threadneedle or Green Street? Mervin plays for Westham now?
I'm forever blowin' bubbles....
7. inbreda said...
odd how they revise the depth of the recession, but not the point at which they expect it to turn around. Once we get past that point things will get interesting. They're going to have to think breadth as well as depth!
8. paranoia blue said...
Ah, so that is why he has been fannying about for so long!
9. yoyo1 said...
Follow the arrow Merv, you can't miss it!
10. robh said...
How is it that the graph seems to always end up in roughly the same place? Is it a 'given' that no matter how -ve growth is it will always get back to positive growth by 2010?
11. nickb said...
@robh
It is in an election year.
12. mr g said...
"However, given how much weaker the economy is than the Bank feared in August, the spike in inflation is likely to be short-lived. Governor Mervyn King and the Bank will again warn that inflation will undershoot the 2% target for much of 2010 and 2011"
Anyone care to believe that?
13. dohousescrashinthewoods said...
Even the latest line looks implausible. Looks like it wants to drag down in a wide curve and not bottom until 2012-2014 at the earliest.
14. paul said...
Looks like the BoE is finally being pulled up on its pollyannaish notions of high growth and low inflation. Glad someone's noticing the biggest central bank scam of the decade.