Pill’s first point is an admission that #MPC left it too late to raise rates. If they had started earlier the impact of tighter monetary policy would be coming through more quickly. Link
Andrew Sentance Thu 11 Aug 2022 08:27chief economist Huw Pill this evening: • Rate hikes probably won't filter through to economy until late 2023 • No return of QE, at least for a few years • Says cbanks best placed to control mon pol vs politicians with "short horizons"- I like this plan. @ofgwm has failed in terms of keeping down energy bills. Now time for more direct intervention to keep rising prices in check. Link Andrew Sentance Wed 10 Aug 2022 19:59?Exc - Gordon Brown sets out a plan for the winter. He calls on the government to cancel the price cap and open talks with energy companies on setting lower prices. Energy firms unable to offer lower bills should be temporarily re-nationalised.
- Politics has become a pantomime in the US and UK. Can we have a return to serous politics asap. Andrew Sentance Wed 10 Aug 2022 11:21
- RT @CambridgeEcon: Newsletter! In a complex world, we help you see more clearly. Sign up for the latest global economic updates ? https:/… Andrew Sentance Wed 10 Aug 2022 10:36
- Why is @ofgem being allowed to ramp up the energy price cap when it has been so ineffective in protecting consumers and seems preoccupied with protecting energy suppliers? The gov’t needs to step in and over-ride #Ofgem, imposing a price freeze in the public interest. Andrew Sentance Wed 10 Aug 2022 09:21
- RT @truemagic68: @asentance You have put the case very succinctly, Andrew. I totally concur! Andrew Sentance Wed 10 Aug 2022 08:50
- RT @notayesmansecon: #Ofgem looks a clear case of the sort of regulatory capture described as long ago as the 1980s by Yes Prime Minister Andrew Sentance Wed 10 Aug 2022 08:45
- With energy suppliers making massive profits, why is @ofgem allowing them to raise prices even further? #Ofgem has totally failed in protecting the public from energy price shocks. It should do its job properly and protect consumers, not add further to profits of energy producers Andrew Sentance Wed 10 Aug 2022 08:35
- Inflation alert: UK CPI inflation rate up to 3.2 percent from 2 percent - biggest jump since 1997. Factory gate prices up nearly 6 pc on a year ago. The expected inflation surge in the 2nd half of this year continues unchecked. Andrew Sentance Wed 15 Sep 2021 06:19
- RT @RJPartington: Problems with Covid disruption are being worsened by Brexit. @asentance warns this is unlikely to be a flash in the pan.… Andrew Sentance Wed 25 Aug 2021 06:15
- Evidence continues to accumulate of skill shortages and supply chain disruption as the UK economy bounces back from the pandemic. This is not just a short-term issue. Link Andrew Sentance Tue 24 Aug 2021 20:25
Britain’s economy has been plunged into a supply chain crisis, with major retailers’ stock levels at their the lowest since 1983 as a result of worker shortages and transport disruption caused by Covid and Brexit.
In a development that suggests recovery from the pandemic could be at risk, the Confederation of British Industry (CBI) said stock levels in relation to expected sales fell to their lowest level in August since it began tracking retail industry trends almost four decades ago.
It blamed global supply chain disruption triggered by the pandemic and worker shortages in several key industrial sectors, compounded by Brexit disruption as the UK emerges from lockdown.
Andrew Sentance, a former member of the Bank of England’s monetary policy committee, said shortages of workers and materials were the most acute in decades and painted a worrying picture for the British economy.
“It’s quite striking, I don’t think we can dismiss this as a flash in...
- As a former US President (Clinton) famously said “It’s the economy, stupid”. US policy failed to apply that principle in Afghanistan. Link Andrew Sentance Tue 24 Aug 2021 18:20
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- Brexit is a total wash-out. A bit like the English summer in fact. Link Andrew Sentance Tue 24 Aug 2021 10:54
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- For those who couldn’t get behind the paywall, here is my ?@thetimes? article today. https://t.co/wK8B9tAyPL Andrew Sentance Mon 23 Aug 2021 11:58
- Can the US, UK and other European nations negotiate to organise the involvement of the Red Cross, Red Crescent, Save the Children and other reputable charitable organisations to safeguard the welfare of Afghan citizens after the troops leave? Andrew Sentance Mon 23 Aug 2021 10:13
- There are too many inflationary pressures to be ignored. Why the fall in UK inflation last week will only be a brief respite for consumers. My latest article in ??@thetimes?. Link Andrew Sentance Mon 23 Aug 2021 05:23
- Amazing that some washed up pop stars think they know more about Covid-19 and vaccines than the expert medical and scientific community. And then the #NHS has to come in and pick up the pieces, diverting resources from other needy patients. Link Andrew Sentance Sat 21 Aug 2021 10:41
Right Said Fred singer, Richard Fairbrass was hospitalised with Covid-19 after previously refusing to get vaccinated, it has emerged.
The 67-year-old musician was taken to hospital by ambulance last weekend after struggling to breathe. He spent four nights under observation before his condition improved and he returned home.
- Resolution Foundation says it is low interest rates and other forms of demand stimulus which have been driving up house prices, not the stamp duty holiday. Link Andrew Sentance Sat 21 Aug 2021 09:51
When the stamp duty holiday was introduced in England and Northern Ireland in July 2020, it was designed to boost the property market by helping buyers whose finances were affected by Covid, with savings of up to £15,000 per home.
- My composite UK inflation indicator is still hovering around 5 percent, despite the fall in CPI inflation to 2 percent in July. Even the ultra-cautious Bank of England is expecting 4 percent inflation later this year. I am expecting 5 percent or higher. https://t.co/J83nFRXeEH Andrew Sentance Thu 19 Aug 2021 08:36
- I’m in @TheSun today warning of rising inflation despite yesterday’s report of a fall in CPI inflation. When you get an economics story into The Sun that is always a good achievement! Link Andrew Sentance Thu 19 Aug 2021 08:01
And it suggests the Bank is not under any immediate pressure to push up interest rates.
But economists believe that the cost of living will climb again from autumn — raising prices on many items for cash-strapped families as they prepare for Christmas.
- Something should be done to curb rampant house price inflation. Such as halting #QE and raising interest rates. Not much sign of that at the moment, though! Link Andrew Sentance Wed 18 Aug 2021 15:45
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- Rise in CPI inflation to 4-5 percent is still@on the cards despite the fall reported today. Link Andrew Sentance Wed 18 Aug 2021 07:35
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- Different measures of inflation pointing in different directions today. CPI inflation fell back to 2 percent but RPI inflation is 3.8 percent and RPIX inflation is 3.9 percent. factory gate inflation has picked up to 4.9 pc showing more price pressures in the pipeline. Andrew Sentance Wed 18 Aug 2021 06:34
- Though headline U.K. inflation dropped back in today’s CPI release, this looks like a temporary blip on the way to 4-5 percent inflation later this year. Factory gate prices are already rising at nearly 5 percent and the labour market is tightening with record no. of vacancies. Andrew Sentance Wed 18 Aug 2021 06:29
- RT @JamesSmithRF: .@ONS data out this morning shows inflation fell back in July with CPIH at 2.1% (compared with 2.4% in June). But this… Andrew Sentance Wed 18 Aug 2021 06:14
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