Michael Ellington

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    To get its forecasts right, the BoE should publish its own future rate path again

To get its forecasts right, the BoE should publish its own future rate path again

It was widely expected and indeed happened. The Bank of England’s Monetary Policy Committee (MPC) decided, by a 7-2 majority, to raise (for the first time in 10 years) its policy rate from 0.25% to 0.5%. Yet, financial markets appear not to have taken seriously either the hike or the MPC’s additional message that (at least) two further interest […]

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    Brexiteers’ hope for an export-led economy risks proving naïve

Brexiteers’ hope for an export-led economy risks proving naïve

Theresa May has sent the Article 50 notification to the EU, setting out seven principles (presumably in a hierarchical order of importance), with the second being the protection of the working rights of EU citizens here and UK citizens in Europe. This confirms what Michel Barnier (the EU negotiator) considered as a major priority. This should be good news: both sides agree on the […]