On top of being asleep at the wheel for so long, now the MPC have completely undermined the primary short term mechanism for interest rates to control inflation but successfully weakening the £ with … (View Post)

Forecast is built on the absolute nonsense assumption that current insane energy prices persist forever. The Bank's core projection is more negative than simply following the futures curve which itse… (View Post)

It means energy prices are being held several multiples above their natural level by geopolitical factors, and once those factors are resolved prices will fall back to somewhere within 150% of where … (View Post)

Japan was a very poor choice. There are several other currencies which didn't turn on the printing taps during Covid and have significantly lower inflation now. All choices come with pros and cons an… (View Post)

No, it's going to be very painful for the vast bulk of ordinary bill payers when the excess cost of dealing with this sort of fraud gets spread on to next year's bills. (View Post)