UK property prices grew +2.5% annually, the highest annual growth since January 2023, Halifax reports
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MPs have accused the Bank of England of taking a “leap in the dark” as it offloads hundreds of billions of pounds worth of government debt at discount prices.
“It has become clear during the course of this inquiry that the decision to undertake a period of quantitative tightening is a leap in the dark for the UK economy.
“I recognise that the Bank of England does not have a crystal ball and is in uncharted waters, but more can be done to develop forecasting and modelling tools which can help us understand the risks and benefits of QT.”
“While acknowledging the need to keep monetary policy and inflation as their foremost monetary focus, the committee asks the Bank of England and Treasury to explore how value-for money criteria could be included in decisions about the ongoing pace of QT and to consider what lessons can be learned about how QE should be used in future.”
“We welcome the committee’s report and will consider its findings carefully before responding. We continue to encourage active debate about our monetary policy decisions and their implementation”.
Continue reading…UK property prices grew +2.5% annually, the highest annual growth since January 2023, Halifax reports Government ‘does not understand how HS2 will function as railway’Misconduct claims tipped CBI into ‘near death experience’, says presidentGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.MPs have accused the Bank of England of taking a “leap in the dark” as it offloads hundreds of billions of pounds worth of government debt at discount prices.“It has become clear during the course of this inquiry that the decision to undertake a period of quantitative tightening is a leap in the dark for the UK economy.“I recognise that the Bank of England does not have a crystal ball and is in uncharted waters, but more can be done to develop forecasting and modelling tools which can help us understand the risks and benefits of QT.”“While acknowledging the need to keep monetary policy and inflation as their foremost monetary focus, the committee asks the Bank of England and Treasury to explore how value-for money criteria could be included in decisions about the ongoing pace of QT and to consider what lessons can be learned about how QE should be used in future.”“We welcome the committee’s report and will consider its findings carefully before responding. We continue to encourage active debate about our monetary policy decisions and their implementation”. Continue reading…
