What can the ECB learn from the Bank of Japan’s QE experience?

Today I intend to take one of my regular trips to the economy of the land of the rising sun which is in the throes of a rather extraordinary economic experiment. Japan is undertaking an extraordinary monetary – and less well publicised fiscal- stimulus to its economy in an attempt to raise its inflation rate […]

10 September 2014 by Shaun Richards

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Where do the upwards revisions to UK GDP leave the “output gap” and “labour market slack”?

Today the Bank of England Monetary Policy Committee meets to make its latest decisions and deliberations on UK monetary policy. It may even spend a little time discussing how its policy might change if later this month it becomes responsible for rUK should Scotland vote for independence. We know that last month there were two […]

4 September 2014 by Shaun Richards

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What does the transfer window just gone tell us about the economics of England’s Premier League?

Last night at 11pm British Summer Time the latest transfer window for the UK football premiership closed. I would say slammed shut but in fact some deals  such as the move of the England international Danny Welbeck to Arsenal had not yet been completed. Actually I also recall the former Stoke City and Crystal Palace […]

2 September 2014 by Shaun Richards

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Banco Espirito Santo gets a 4.9 billion Euro bailout with apparently “no costs” for Portugal

Late last night came the news which we had been fearing about the state of play at Banco Espirito Santo or BES. The Bank of Portugal announced that it was being bailed out. The Board of Directors of Banco de Portugal has decided to apply a resolution measure to Banco Espírito Santo, S.A.. The general […]

4 August 2014 by Shaun Richards

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Today’s UK production hiccup poses the question of will we regain past peaks?

Today has seen an event which has caught both investors and economists on the hop somewhat so let us take a look at what has happened. At 9:30am the Office for National Statistics released this data. Total production decreased by 0.7% between April 2014 and May 2014. Manufacturing was the largest contributor, decreasing by 1.3%. […]

8 July 2014 by Shaun Richards

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What does yesterday’s interest-rate cut in Sweden teach us?

Yesterday saw an event which was simultaneously rather extraordinary and also managed to highlight several themes of this blog. So let me without further ado let the Riksbank in Sweden explain events. Economic activity continues to strengthen in the Swedish economy. That may have lulled readers into a false sense of security as a few […]

4 July 2014 by Shaun Richards

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How many more times will Mark Carney “flip-flop” on UK monetary policy?

Today sees several members of the Bank of England Monetary Policy Committee giving testimony to the Treasury Select Committee about the May Inflation Report. In particular there will be plenty of opportunity to discuss these two parts of it. Monetary policy will be set to meet the inflation target over the forecast horizon, while using up […]

24 June 2014 by Shaun Richards

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Are UK readers feeling 4.6% better off today in line with the GDP “improvement”?

Today is one which has not only updated us on the state of play in the UK economy but has also told us more about how it is going to be measured. For those curious about the latter category, it is that we have been told more by the Office for National Statistics about its […]

10 June 2014 by Shaun Richards

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The ECB faces up to the prospect that Euro area monetary policy is “maxxed-out”

The last few days have seen media outlets rush to predict a change in monetary policy from the European Central Bank this week. This left them around a fortnight behind the hints that the ECB has been giving! However much more reticence has been shown around the subject of what it will do with reports […]

3 June 2014 by Shaun Richards

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Why are Mark Carney and Christine Lagarde suddenly so keen on “inclusive capitalism”?

Yesterday saw a new phase in the credit crunch era as both the head of the International Monetary Fund and the Governor of the Bank of England talked about the new buzz phrase which is “inclusive capitalism”. It has the advantage of sounding good so let us investigate how Christine Lagarde explained the concept. The latter […]

28 May 2014 by Shaun Richards

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