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Mps To Have Tea And A Chat With Mystic Merv Over Qe

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http://www.telegraph.co.uk/finance/economics/8841818/MPs-to-quiz-Bank-of-England-Governor-Mervyn-King-on-QE.html

He has been called by the Treasury Select Committee to give evidence on Tuesday on the second wave of quantitative easing, voted for unanimously by the MPC at its October meeting.

The MPC said it would buy a further £75bn of assets as the risks to economic growth outweigh concerns about high inflation, which hit 5.2pc in September.

Andrew Tyrie, chairman of the Treasury Committee, said: "The Bank of England has taken a major step by resuming quantitative easing. The Committee will appreciate an opportunity to have an explanation for the decision from the Bank. The Governor has kindly agreed to come before us on Tuesday morning."

Sir Mervyn and Charles Bean, a deputy governor at the Bank, will be asked to explain in detail its decision to undertake more QE.

"Among the issues the Committee wants to discuss are the effectiveness of QE, the case for using the same tool a second time, and the respective roles of the Treasury and the Bank in implementing measures to stimulate the economy," said Mr Tyrie.

We can be certain one topic won't be asked:

Ex-Governor George says Bank deliberately fuelled consumer boom

We can't expect anything other than a nice cup of tea and a bit of a chat, they might even discuss the X-Factor.

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http://www.telegraph.co.uk/finance/economics/8841818/MPs-to-quiz-Bank-of-England-Governor-Mervyn-King-on-QE.html

We can be certain one topic won't be asked:

Ex-Governor George says Bank deliberately fuelled consumer boom

We can't expect anything other than a nice cup of tea and a bit of a chat, they might even discuss the X-Factor.

Will he take questions for Sir Moralevyn Hazardking?

http://www.andrewtyrie.com/text.aspx?id=53

http://www.parliament.uk/biographies/commons/25231

Edited by Redhat Sly

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http://www.telegraph.co.uk/finance/economics/8841818/MPs-to-quiz-Bank-of-England-Governor-Mervyn-King-on-QE.html

We can be certain one topic won't be asked:

Ex-Governor George says Bank deliberately fuelled consumer boom

We can't expect anything other than a nice cup of tea and a bit of a chat, they might even discuss the X-Factor.

Barm cakes might be more apt

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Hopefully Merv will do all the talking.

Whenever Charlie opens his mouth my head hits the keyboard about ten seconds later. I'm surprised he hasn't published an iTunes download for insomniacs.

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Sir Mervyn King, the Bank of England's Governor, will be questioned next week by an influential panel of MPs on the Monetary Policy's Committee's decision to inject more money into Britain's ailing economy. He has been called by the Treasury Select Committee to give evidence on Tuesday on the second wave of quantitative easing, voted for unanimously by the MPC . The MPC said it would buy a further £75bn of assets as the risks to economic growth outweigh concerns about high inflation, which hit 5.2pc in September.

Andrew Tyrie, chairman of the Treasury Committee, said: "The Bank of England has taken a major step by resuming quantitative easing. The Committee will appreciate an opportunity to have an explanation for the decision from the Bank. The Governor has kindly agreed to come before us on Tuesday morning. Sir Mervyn and Charles Bean, a deputy governor at the Bank, will be asked to explain in detail its decision to undertake more QE.

"Among the issues the Committee wants to discuss are the effectiveness of QE, the case for using the same tool a second time, and the respective roles of the Treasury and the Bank in implementing measures to stimulate the economy," said Mr Tyrie.

The Bank has estimated that QE had a peak effect of boosting output by up to 2pc, and increased UK household wealth by about 16pc principally by lifting share prices. It cautioned, however, that any future asset purchases would not necessarily have an impact on the same scale.

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Hopefully Merv will do all the talking.

Whenever Charlie opens his mouth my head hits the keyboard about ten seconds later. I'm surprised he hasn't published an iTunes download for insomniacs.

Charles "savers should stop moaning and spend their savings" Bean

Savers should stop complaining about poor returns and start spending to help the economy, a senior Bank of England official warned today.

Mr Bean said low returns on savings were part of the Bank of England's strategy

Older households could afford to suffer because they had benefited from previous property price rises, Charles Bean, the deputy governor, suggested.

They should "not expect" to live off interest, he added, admitting that low returns were part of a strategy.

His remarks are likely to infuriate savers, who are among the biggest victims of the recession. About five million retired people are thought to rely on the interest earned by their nest-eggs. But almost all savings accounts now pay less than inflation.

The typical savings rate has fallen from more than 2.8 per cent before the financial crisis to 0.23 per cent last month.

Mr Bean said he "fully sympathised". But he continued: "Savers shouldn't necessarily expect to be able to live just off their income in times when interest rates are low. It may make sense for them to eat into their capital a bit."

He added: "Very often older households have actually benefited from the fact that they've seen capital gains on their houses."

http://www.telegraph.co.uk/finance/personalfinance/savings/8028884/Savers-told-to-stop-moaning-and-start-spending.html

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Charles "savers should stop moaning and spend their savings" Bean

We could start by spending the B(rupt) of E's inflation proof pension pot.

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So the Treasury is trying to imply that Mervyn has acted without their authority?

What a load of tosh.

Osborne gave the green light to QE2 last month.

http://citywire.co.uk/new-model-adviser/osborne-wont-stand-in-the-way-of-more-qe/a523109

‘I have made it clear that the administrative arrangement that were established by my predecessor Alistair Darling for the operation of quantitative easing remain in place, so I don’t have to get into a discussion of how I would handle a request [to purchase riskier assets] from the Monetary Policy Committee,’ said Osborne.

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W@nker!!

Bean is indeed an aptly named t0sser..........unfortunately his plea to spend spend spend like Viv Nicholson may not be a stupid as it seems...........before they have inflated the value of your life's savings into dust.

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Charles "savers should stop moaning and spend their savings" Bean

I am Charlie old son, I am.

On GOLD and SILVER

41784_138684806169815_1459_n.jpg

As far as I'm concerned Merv, Charlie, in fact the whole bloomin' MPC can swivel on it!

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Sir Mervyn and Charles Bean, a deputy governor at the Bank, will be asked to explain in detail its decision to undertake more QE

Because they are incompetent and failed the UK.

No more detail needed.

Edited by billybong

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I am Charlie old son, I am.

On GOLD and SILVER

As far as I'm concerned Merv, Charlie, in fact the whole bloomin' MPC can swivel on it!

Latest NS&I newsletter included

A golden way to invest?

As the global economic outlook remains unclear, some investors are seeking financial refuge in one precious metal – gold. In early September 2011 the price of gold was at a record high and despite recent falls in value, it seems that for many, this apparent ‘safe haven’ investment is proving too good to resist.

Should you invest in gold?Gold is seen as an attractive investment for many reasons. On a basic level, it has the reassurance of being a tangible commodity and the demand for gold always seems to outweigh its strictly limited supply – leading to an increase in value. Unlike an investment such as property, it’s also very liquid. In other words, it’s easy to buy and sell and this has an appeal to investors.

http://www.nsandi-perspectives.com/current-issue/autumn-2011/gold-as-an-alternative-investment?

How many businesses advise you to spend your money somewhere else?

NS&I even saying it's better than property. STR and put it in gold!

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So the Treasury is trying to imply that Mervyn has acted without their authority?

What a load of tosh.

Osborne gave the green light to QE2 last month.

http://citywire.co.uk/new-model-adviser/osborne-wont-stand-in-the-way-of-more-qe/a523109

They are all playing the blame game, no one what's to be holding parcel when everyone finally realises it's 5h1t.

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  • 277 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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