Tag: Andrew Sentance

UK interest rates on hold but central bank announces QE boost

UK interest rates on hold but central bank announces QE boost

The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5%, as widely expected. Interest rates have now been at this low level since March 2009 – when the economy was in the midst of recession. Recent figures show the economy [...]

October 6, 2011 More
Just two policy members vote for interest rate rise

Just two policy members vote for interest rate rise

Minutes of the Bank of England’s June 8-9 meeting have been released today and have revealed the Monetary Policy Committee (MPC) voted 7-2 to lift interest rates and 8-1 to restart the Bank’s quantitative easing (QE) scheme. Adam Posen, again, called for an injection of £50 billion via the QE scheme to boost the economy. [...]

June 22, 2011 | 0 Comments More
UK interest rates remain on hold

UK interest rates remain on hold

The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5%, as widely expected. Interest rates have now been at this low level since March 2009 – when the economy was in the midst of recession. Recent figures show the economy [...]

June 9, 2011 | 0 Comments More
Challenging times ahead warns policymaker

Challenging times ahead warns policymaker

Spencer Dale, one of the Bank of England’s Monetary Policy Committee (MPC) members, has warned that rising inflation is a “significant risk” to the UK economy. Mr Dale, who is the Bank of England’s chief economist, said the UK can expect some tough times ahead over the next few years and said he is “not [...]

May 30, 2011 | 0 Comments More
Policymaker against lifting interest rates

Policymaker against lifting interest rates

Bank of England policymaker Adam Posen today said the central bank is right not to have raised interest rates, despite stubbornly high inflation. For several months, three of Monetary Policy Committee (MPC) members have voted for interest rates to be lifted after inflation reached a 2½- year high last month of 4.5% – more than [...]

May 27, 2011 | 0 Comments More
OECD: Bank of England should lift interest rates

OECD: Bank of England should lift interest rates

The Paris-based Organisation for Economic Cooperation and Development (OECD) has today said the Bank of England should lift interest rates to combat stubbornly high inflation. UK economic growth is being hampered by soaring inflation, which is having a major impact on consumer spending. As a result, the Organisation revised its growth forecasts for the UK, [...]

May 25, 2011 | 0 Comments More
MPC’s Posen expects inflation to fall to 1.5% by mid-2012

MPC’s Posen expects inflation to fall to 1.5% by mid-2012

Bank of England policymaker Adam Posen believes inflation will plunge to 1.5% by the middle of next year. His expectation is for a much sharper fall than his fellow policy members. The American economist is so certain of his prediction that he has threatened to step down from the Committee, when his three-year term ends [...]

March 29, 2011 | 0 Comments More
Andrew Sentance continues argument for higher interest rates

Andrew Sentance continues argument for higher interest rates

Dr Andrew Sentance, one of the external members of the Bank of England’s Monetary Policy Committee (MPC), has once again argued the case for higher interest rates. Mr Sentance has, since last June, voted for the base rate to be lifted, in order to combat high inflation. He has previously warned that the central Bank [...]

March 28, 2011 | 0 Comments More
Ben Broadbent to joins Monetary Policy Committee

Ben Broadbent to joins Monetary Policy Committee

The Treasury has today announced Ben Broadbent will join the Bank of England’s Monetary Policy Committee (MPC). Mr Broadbent, a Goldman Sachs economist, will assume his position in time for the June rate-setting meeting and replaces Andrew Sentance after his term ends on 31 May. Broadbent’s research at Goldman has suggested there will be three [...]

March 7, 2011 | 0 Comments More
Andrew Sentence again talks of raising interest rates to curb inflation

Andrew Sentence again talks of raising interest rates to curb inflation

Andrew Sentance, one of the Bank of England’s Monetary Policy Committee (MPC) members, has once again spoken of stubbornly high inflation. Mr Sentance has, since last June, voted for the base rate to be lifted, in order to combat high inflation. He has previously warned that the central Bank faces losing its credibility if it [...]

February 17, 2011 | 0 Comments More
Slim chance of interest rate rise this week

Slim chance of interest rate rise this week

According to some economists, there is a very small chance that the Bank of England could raise interest rates when it meets later this week. The Monetary Policy Committee (MPC) commences its two-day meeting on Wednesday and City bank JP Morgan believes there is a 40% chance that rates will be lifted from their historic [...]

February 7, 2011 | 0 Comments More
Bank minutes reveal two policy members voted for rate rise

Bank minutes reveal two policy members voted for rate rise

Minutes of the Bank of England’s January meeting have been released today and have revealed that the Monetary Policy Committee (MPC) voted 7-2 to lift interest rates and 8-1 to restart the Bank’s quantitative easing (QE) scheme. Adam Posen, again, called for an injection of £50 billion via the QE scheme to boost the economy. [...]

January 26, 2011 | 0 Comments More
Policymaker urges BoE to respond to inflation

Policymaker urges BoE to respond to inflation

Andrew Sentance, one of the Bank of England’s Monetary Policy Committee (MPC) members, has once again spoken of stubbornly high inflation. Mr Sentance has, at the last seven rate-setting meetings, voted for the base rate to be lifted, in order to combat high inflation. He is expected to have voted this month for rates to [...]

January 24, 2011 | 0 Comments More
Bank minutes reveal another three-way split in December

Bank minutes reveal another three-way split in December

Minutes of the Bank of England’s December meeting have been released today and have revealed that the Monetary Policy Committee (MPC) were split three ways – for the third consecutive month. Adam Posen, again, called for an injection of £50 billion via the Bank’s quantitative easing (QE) programme to boost the economy. Furthermore, for the [...]

December 22, 2010 | 0 Comments More
UK interest rates and QE remain on hold

UK interest rates and QE remain on hold

The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% – where they have been since March 2009. Furthermore, the Bank opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced to [...]

December 9, 2010 | 0 Comments More
BoE policymakers give views on economy

BoE policymakers give views on economy

In two separate interviews, Bank of England policymakers, David Miles and Andrew Sentance, have both given their views on the UK economy. David Miles said there is no rush to withdraw any stimulus but said the Bank must avoid taking action that could derail the recovery. In an interview with the Northern Echo newspaper, Mr [...]

November 25, 2010 | 0 Comments More
Bank minutes reveal another three-way split

Bank minutes reveal another three-way split

Minutes of the Bank of England’s November meeting have been released today and have revealed that the Monetary Policy Committee (MPC) were split three ways - for the second consecutive month. Adam Posen, again, called for an injection of £50 billion via the Bank’s quantitative easing (QE) programme to boost the economy. Furthermore, for the [...]

November 17, 2010 | 0 Comments More
Interest rates expected to be lifted in short-term

Interest rates expected to be lifted in short-term

Economists have warned that interest rates could rise sooner than expected - and the warning came hot on the heels of a double dose of good news for the UK economy. Yesterday, the Office for National Statistics (ONS) revealed UK economic growth for the third quarter slowed to 0.8%, albeit double the rate analysts had [...]

October 27, 2010 | 0 Comments More
BoE minutes reveal three-way split

BoE minutes reveal three-way split

Minutes of the Bank of England’s October meeting have been released today and have revealed that the Monetary Policy Committee (MPC) were split three ways. Adam Posen called for an injection of £50 billion via its quantitative easing (QE) programme to boost the economy. For the fifth consecutive month, policymaker Andrew Sentance voted for interest [...]

October 20, 2010 | 0 Comments More
Policymaker Andrew Sentance continues argument for higher interest rates

Policymaker Andrew Sentance continues argument for higher interest rates

Andrew Sentance, one of the Bank of England’s Monetary Policy Committee (MPC) members, has once again spoken of stubbornly high inflation. Mr Sentance has, at the last four rate-setting meetings, voted for the base rate to be lifted, in order to combat high inflation. He is expected to have voted this month for rates to [...]

October 14, 2010 | 0 Comments More