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davidhpc

Ft Audit Casts Doubt On Bank’S Forecasts

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Hard-hitting article from the Financial Times Economics Editor,

"The forecasts used by the Bank of England to set interest rates are biased and contain little useful information, a Financial Times audit has demonstrated.

Despite having hundreds of economists working in the Bank, and the most sophisticated suite of economic models in the UK, the monetary policy committee’s forecasts since 1997 have achieved no better outcome than if the committee had simply predicted the average level for inflation and growth over the 13-year period.

With concerns rising over the Bank's failure to foresee recent rises in inflation, these findings suggest the problems are, in fact, endemic. They will cast doubt over the credibility of its predictions for the course of the economy, due to be updated when it unveils its quarterly inflation report on Wednesday."

need to register to read the full article at http://www.ft.com/cms/s/0/4e53a2de-a3f3-11df-9e3a-00144feabdc0.html

good to see someone at last calling the weasels at the BofE

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Glow ball credit and capital flows.

Committee with a computer model plaitting fog.

They're irrelevant at best.

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  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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