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Democorruptcy

Bank Of England Being Vigilant

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Emerging markets are likely to be increasingly prone to asset price bubbles in coming years due to capital inflows from advanced economies and strong domestic saving, a top Bank of England official said on Saturday.

Andrew Haldane, the BoE's executive director for financial stability, said this trend was already evident in "bubbly behavior" in emerging markets in 2010 and meant there was growing international acceptance of capital controls.

"Capital restrictions and macro-prudential policies have entered the policy bloodstream, if not yet the mainstream. The debate today is how best to integrate such tools into established macroeconomic policy frameworks," he said in a speech at a conference in Bretton Woods, New Hampshire.

Haldane's remarks come as BoE Governor Mervyn King prepares to travel to Washington next week for the International Monetary Fund's Spring meetings. On Tuesday the IMF endorsed capital controls after many years of opposition.

http://www.reuters.com/article/2011/04/09/us-boes-haldane-idUSTRE7382FA20110409

Loosely translated.....

Andrew Haldane says the B of E completely missed our asset bubble and as a result have had to slash interest rates to 0.5% so savers in the UK will want to transfer their money to countries that don't have a set of clowns in charge of their economy. So the UK doesn't lose this money abroad as they deserve, capital controls have to be put in place so the Bank of England can continue to destroy their wealth.

Edited by Redhat Sly

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Loosely translated.....

Andrew Haldane says the B of E completely missed our asset bubble and as a result have had to slash interest rates to 0.5% so savers in the UK will want to transfer their money to countries that don't have a set of clowns in charge of their economy. So the UK doesn't lose this money abroad as they deserve, capital controls have to be put in place so the Bank of England can continue to destroy their wealth.

..wish the BofE had paid more attention to our bubble ...hypocrites...?.... :rolleyes:

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The western worlds ZIRP is fuelling the emerging worlds commodity boom. This will inevitably cause the western economies back into recession. Ironically by Merv being wrong he will actually be right!

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Andrew Haldane, the BoE's executive director for financial stability,...

They've done such a great job groundhogging on stability for the UK now they're telling other countries :lol: .

It's like when Zimbabwe congratulates the UK on it's policies on inflation.

Edited by billybong

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  • 312 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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