Tuesday, Feb 16, 2010
Letters between the Governor and the Chancellor
BoE: Letter from the Governor to the Chancellor
Correspondence regarding inflation.
Posted by 51ck-6-51x @ 11:02 AM (1130 views) Add Comment
10 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. inbreda said...
what self congratulating back slapping ra-ra BS. Pointless individuals.
2. nomad said...
This bit's good.
"And intelligence from the Bank's Agents suggests that pay growth in the non-financial
sector is likely to remain subdued in the period ahead."
We're left to make the assumption that the financial sector will continue to skim off just as much as they want.
3. vacuouspolitician said...
Give the man a napkin...
but folks ..."I fail to see what Merv has done that is so wrong" ...followed by "no one should blame Merv"
4. rumble said...
"And intelligence from the Bank's Agents suggests that pay growth in the non-fictional
sector is likely to remain subdued in the period ahead."
5. icarus said...
The depreciation of sterling in 2007-8 is cited as one of the wild cards which "cannot immediately be offset by monetary policy" and which is causing a rise in inflation. Why is this a wild card? Wasn't it a deliberate policy? And can't it be offset by monetary policy (sterling interest rates up, sterling up)?
6. inbreda said...
icarus @5
I agree - it is almost as if they are taunting us. Seeing just how stupida comment they can make and get away with
7. Crunchy said...
No one should blame Merv?
Merv works for a central bank. Guilty by appointment.
8. 51ck-6-51x said...
Only 1 post per hour on this sickness?
9. Inflation Is Inevitable said...
QE, then Inflation, what a puzzle, what did that Northern Rock banker say in his defence.
No one could possibly have predicted it.
10. peter rocker said...
icarus: Interest rates are one factor that affect foreign exchange rates, but there are many others. The country's 'current account deficit' or surplus will affect the foreign exchange rate, so will general confidence in the economy of the country. At the moment, raising interest rates in the UK would probably have a serious impact on the economy, so sterling might fall!
When the credit crisis hit, investors re-assessed the UK as an investment location, and because of the UK's central role in the crisis, decided to pull out. The fact that interest rates were also lowered during the crisis also helped the fall, in this case.