Jump to content
House Price Crash Forum
Guest

Mpc Meeting Minutes

Recommended Posts

Guest

As we saw last month, January saw a shift from 1-0-8 to 2-0-7 (raise-reduce-hold)...

February saw a shift to 3-0-6!!! On the way to a rate raise surely?

Share this post


Link to post
Share on other sites

As we saw last month, January saw a shift from 1-0-8 to 2-0-7 (raise-reduce-hold)...

February saw a shift to 3-0-6!!! On the way to a rate raise surely?

Its like 12 angry men excpet there are only 9 of them.

Who is the Henry Fonda figure!!

Share this post


Link to post
Share on other sites

Sentance now voting for 0.5% increase. Dale and Weale voting for 0.25%

I think next month is the month.

So that's an average of +0.11%.

So much for proprtional representation. It's all or nothing with these people.

Share this post


Link to post
Share on other sites

MPC is struggling to understand why import growth is so strong despite the fall in sterling.

17 Exports of goods and services had grown by 7.5% in the four quarters to 2010 Q3, considerably

faster than the 2000-07 average. More recent data had been consistent with continued growth, and

ONS data suggested that goods exports had grown robustly in the fourth quarter. But import growth

had also remained strong, with the result that net trade had continued to make less of a contribution to

GDP growth than the Committee had previously expected. It was unclear why import penetration had

declined by so little to date, given the substantial fall in sterling. One possibility was that there was a

mis-match between domestic productive capacity in certain industries and demand, which would take

time to rectify. It was also the case that the trade data were particularly prone to revision, cautioning

against drawing firm inferences from the apparent persistence of import penetration.

Share this post


Link to post
Share on other sites

Oil price is spiralling out of control, too.

That will really heap more inflationary pressures over the next 12 months. Higher rates ARE coming - a question of sooner rather than later.

Share this post


Link to post
Share on other sites
question of sooner rather than later.

But not soon enough <_< -- It won't happen until June, by which time inflation will be so much higher

Edited by exiges

Share this post


Link to post
Share on other sites

As we saw last month, January saw a shift from 1-0-8 to 2-0-7 (raise-reduce-hold)...

February saw a shift to 3-0-6!!! On the way to a rate raise surely?

The cynic in me says that this is an exercise in being seen to be doing something - whilst actually doing nothing!

Share this post


Link to post
Share on other sites
Guest

Does anyone have a link to a list of the members, their term remaining etc? They're just anonymous numbers two me at the moment!

Share this post


Link to post
Share on other sites
I think Merv goes next year though.

What a wonderful legacy he's going to leave behind <_<

I hope they replace him with someone with experience of the real world and not an academic.

Share this post


Link to post
Share on other sites

But not soon enough <_< -- It won't happen until June, by which time inflation will be so much higher

Lending rates are already rising, though. eg Nationwide seem to have increased all their fixed rate deals by 0.9% in the last fortnight. That's really going to put the squeeze onto mortgage lending.

Share this post


Link to post
Share on other sites

Trouble in the Middle East will be a "one off factor" to oil prices. It will be "When the problems there are sorted out oil prices will plunge so no need to be vigilant now".

Why is the Brent Crude price now so disconnected from crude?

Share this post


Link to post
Share on other sites

Does anyone have a link to a list of the members, their term remaining etc? They're just anonymous numbers two me at the moment!

http://www.bankofengland.co.uk/monetarypolicy/members.htm

Members of the Monetary Policy Committee (MPC)

The Committee comprises:

The Governor

Mr Mervyn Allister King

Term of Appointment

1 July 2008 - 30 June 2013

(second term)

Two Deputy Governors

Mr Charles Bean

Term of Appointment

1 July 2008 - 30 June 2013

Mr Paul Tucker

Term of Appointment

1 March 2009 – 28 February 2014

Two Bank Executive Directors

Mr Spencer Dale

Term of Appointment

1 July 2008 - 31 May 2013

Mr Paul Fisher

Term of Appointment

1 March 2009 – 31 May 2011

(the remainder of Paul Tucker's previous term)

*Four external members appointed by the Chancellor

Prof. David Miles

Term of Appointment

1 June 2009 - 31 May 2012

Dr. Adam Posen

Term of Appointment

1 September 2009 - 31 August 2012

Dr Andrew Sentance

Term of Appointment

1 June 2008 – 31 May 2011

(second term)

Dr Martin Weale

Term of Appointment

1 August 2010 – 31 July 2013

Share this post


Link to post
Share on other sites

I read here somewhere yesterday that April would indeed be his last vote.

Thanks.

His vote in April could be decisive.

And in terms of house prices, I think an April IR rise (closer to the beginning of the spring market) would be much better than a May rise.

Share this post


Link to post
Share on other sites

http://www.bankofengland.co.uk/monetarypolicy/members.htm

Members of the Monetary Policy Committee (MPC)

The Committee comprises:

The Governor

Mr Mervyn Allister King

Term of Appointment

1 July 2008 - 30 June 2013

(second term)

Two Deputy Governors

Mr Charles Bean

Term of Appointment

1 July 2008 - 30 June 2013

Mr Paul Tucker

Term of Appointment

1 March 2009 – 28 February 2014

Two Bank Executive Directors

Mr Spencer Dale

Term of Appointment

1 July 2008 - 31 May 2013

Mr Paul Fisher

Term of Appointment

1 March 2009 – 31 May 2011

(the remainder of Paul Tucker's previous term)

*Four external members appointed by the Chancellor

Prof. David Miles

Term of Appointment

1 June 2009 - 31 May 2012

Dr. Adam Posen

Term of Appointment

1 September 2009 - 31 August 2012

Dr Andrew Sentance

Term of Appointment

1 June 2008 – 31 May 2011

(second term)

Dr Martin Weale

Term of Appointment

1 August 2010 – 31 July 2013

OK, thanks.

So, this Fisher guy will go soon too, and he's been voting against rises.

BTW, who chooses the new members?

Share this post


Link to post
Share on other sites

OK, thanks.

So, this Fisher guy will go soon too, and he's been voting against rises.

BTW, who chooses the new members?

You have quoted who will select Sentance's replacement.

The chancellor, George "we must keep interest rates lower for longer" Osborne.

Share this post


Link to post
Share on other sites

You have quoted who will select Sentance's replacement.

The chancellor, George "we must keep interest rates lower for longer" Osborne.

"As you can see just before I left the MPC I was voting for rate rises."

A. Sentance, covering his own **** - sometime next year.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 311 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.