BoE Watch MPC to resume QE – possibly this month The minutes of May’s meeting showed that the decision to pause quantitative easing (QE) was pretty close. And the news since then has strengthened the case for doing more. Our hunch is that the... 1st June 2012 · 1 min read
BoE Watch MPC won’t pause for long The recent weakness of the activity data has made this week’s Monetary Policy Committee (MPC) decision much trickier than looked to be the case a few weeks ago. On balance, we think that the Committee... 8th May 2012 · 1 min read
BoE Watch Divisions grow on the MPC The Monetary Policy Committee (MPC) appears increasingly divided between those members who want to provide the economy with more stimulus and those who think that they have now done enough. For now... 2nd April 2012 · 1 min read
BoE Watch MPC losing appetite for more QE Having only just extended its quantitative easing programme by £50bn at last month’s meeting, the MPC is very unlikely to do anything at this week’s meeting. What’s more, comments by Committee members... 5th March 2012 · 1 min read
BoE Watch Better data have not alleviated the need for more QE November’s Inflation Report forecasts suggested that significantly more QE is needed and we don’t think that the recent improvement in the economic data has significantly altered that picture. 6th February 2012 · 1 min read
BoE Watch MPC just biding time until next month The MPC looks unlikely to do anything more while the asset purchases which began in October are still underway, especially given the recent slight improvement in the economic data. However, we doubt... 9th January 2012 · 1 min read
BoE Watch More QE to come after current purchases completed The MPC has sent some strong signals that further quantitative easing (QE) is likely before long. However, the £75bn of asset purchases voted for in October have not been completed yet. And the... 5th December 2011 · 1 min read
BoE Watch MPC to pause this month, but more QE ahead After voting to expand its quantitative easing (QE) programme last month, the Monetary Policy Committee (MPC) looks likely to pause for breath at this week’s policy meeting. Nonetheless, with the... 7th November 2011 · 1 min read
BoE Watch UK MPC Watch - QE2 on the slipway With the news on the UK and global economies continuing to deteriorate, it is now a question of when, rather than if, the Monetary Policy Committee will restart its quantitative easing (QE) programme... 4th October 2011 · 1 min read
BoE Watch Edging towards more QE Last month’s dovish Inflation Report, the about-turn of previous would-be rate hikers and the generally gloomy tone of recent news on the global and UK economies have pushed any remaining prospect of... 6th September 2011 · 1 min read
BoE Watch Risk of rate rise now pretty low The run of weaker news on the economic recovery has made a near-term interest rate rise even less likely than before. We expect this message to be re-iterated in August’s Inflation Report, published... 2nd August 2011 · 1 min read
BoE Watch Discussion turning to QE2 Inflation fell sharply in most countries in the region last month, due in large part to a surprise drop in food prices. This appears to have been driven by one-off factors relating to the outbreak of... 5th July 2011 · 1 min read
BoE Watch Threat of rate rise receding There is little chance of an interest rate rise this month. Last month’s Inflation Report did not suggest that an imminent rate hike was required. And the economic data have retained a fairly soft... 6th June 2011 · 1 min read
BoE Watch Sluggish recovery eases pressure to hike March’s fall in inflation and a run of weak news on the economic recovery have left an interest rate rise at this month’s Monetary Policy Committee meeting looking relatively unlikely. With inflation... 3rd May 2011 · 1 min read
BoE Watch Still not obvious that rate rise is needed There is little to suggest that the Monetary Policy Committee has shifted its position at all since its last meeting. A rate rise therefore does not look very likely. A May hike, coinciding with the... 4th April 2011 · 1 min read
BoE Watch Uncertainty to keep MPC on hold The Monetary Policy Committee (MPC) seems to be getting closer to raising interest rates soon. However, most members still want to wait for a clearer picture regarding the underlying pace of recovery... 7th March 2011 · 1 min read