Friday, April 20, 2012

The rest of the Monetary Policy Committee should be as brave as Adam Posen and resign over their hop

Temporary Spike

The core function of the Bank of England, as it happily states on its website, is to maintain price stability, defined as inflation at two per cent. That figure is now becoming a kind of symbolic, notional target. It's hard to remember when the price rises were last within the pemitted range. Four years ago? Five?

Posted by ontheotherhand @ 07:26 AM (1291 views)
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One thought on “The rest of the Monetary Policy Committee should be as brave as Adam Posen and resign over their hop

  • Fair Play. The MPC were elected, among other things to forecast inflation, aided by a office full of well paid spreadsheet analysts.

    They got it wrong – in Russia they would have been sent to Siberia!

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