Monday, February 1, 2010

BOEs M4 measure still falling

BOE's Preferred M4 Measure Still Negative In Dec

The M4 number that drives BOE decision making is still falling. Chart from BOE report attached: [img]http://www.bankofengland.co.uk/statistics/fm4/2009/dec/CHART3.GIF[/img] So two questions: Does QE boost the relevant measure of M4? Computer says no but MPC says yes. More QE? Computer says yes, £100bn worth.

Posted by fallingbuzzard @ 10:18 AM (664 views)
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3 thoughts on “BOEs M4 measure still falling

  • mark wadsworth says:

    As ever, let me point out that these M1 M2 M3 M4 numbers are, taken in isolation, completely meaningless and arbitrary.

    Of course QE has little or no effect, it’s all smoke and mirrors. Deflation marches merrily onwards, as predicted. The inflation we are seeing is largley down to the fact that sterling slid by 20% or 25% in 2008, and this all has to work its way through the system.

    End of.

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  • The BoE cannot stop now, the nation is so close to bankruptcy it would be a real shame to stop short of anything other than a full blown currency crisis. And the people are still partying like it’s 1999 – brilliant. I’m looking forward to watching the hangover after this party…

    I see our currency is getting hammered again today, even against the Euro.

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  • Mark W,

    I can’t help thinking of the People’s Front of Judea from Monty Python — “All right… all right… but apart from better sanitation and medicine and education and irrigation and public health and roads and a freshwater system and baths and public order… what have the Romans done for us?”

    In your case it’s: — “All right… all right… but apart from food, petrol, house prices, council tax bills, utility bills, etc…. what evidence do you have that inflation is here?”

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