Posts tagged 'Minutes'

QE3, the market functioning fear factor

Cardiff writes mostly about US macroeconomic issues, with daily excursions into other topics about which he claim no expertise. Before Alphaville, Cardiff spent a little more than two years as a reporter at Dow Jones Financial News covering investment banking, asset management, and private equity. Along the way he has written freelance pieces on a variety of other topics from behavioural psychology to Muay Thai, the latter also being a personal interest that involves frequently getting kicked in the shins (and torso, and head).

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| Jul 12 2012 20:57 | Comment |

I guess I would add to that, though, that, you know, each of these nonstandard programs does have various costs and risks associated with it with respect to market functioning, with respect to financial stability, with respect to the exit process, and so I don’t think they should be launched lightly. I think there should be some conviction that they’re needed, but if we do come to that conviction, then we’ll take those additional steps.

– Ben Bernanke on further unconventional Fed measures, at June’s FOMC presser. (Page 8 here, in response to Binyamin Appelbaum’s question.) Read more

Bank of England turning dovish

| Jun 20 2012 12:38 | Comment |

The minutes from the latest MPC meeting are out, and it seems the doves are gaining ground:

Regarding the stock of asset purchases, five members of the Committee (Charles Bean, Paul Tucker, Ben Broadbent, Spencer Dale and Martin Weale) voted in favour of the proposition.  Four members of the Committee voted against the proposition.  The Governor, David Miles and Adam Posen preferred to increase the size of the asset purchase programme by £50 billion to a total of £375 billion.  Paul Fisher preferred to increase the size of the asset purchase programme by £25 billion to a total of £350 billion. Read more

When doves don’t cry – BoE edition

| Jul 20 2011 10:41 | Comment |

The minutes of the last MPC meeting are out and here’s the price action in the Great British Krona.

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MPC still split in four directions

| Mar 23 2011 10:45 | Comment |

The minutes of the Bank of England’s MPC meeting in March released on Wednesday morning show that the committee lines up in exactly the same way as it did last month.

One member (Posen) wants to ease monetary policy, by increasing QE. Five members (King, Tucker, Fisher, Bean, Miles) voted for no change at all. Two members (Weale, Dale) voted for a 25 basis points increase in bank rate. And one member (Sentance) voted for a 50 basis point increase. Read more

Bank’s MPC voted 8-1 to hold rates

| Aug 19 2010 05:21 | Comment |

The Bank of England’s monetary policy committee voted 8-1 in favour of leaving interest rates and the amount of quantitative easing unchanged at its early August meeting, with little sign that calls for tightening by one member were gaining ground, reports the FT. Minutes of the meeting, published Wednesday, show the committee believed there was a risk that demand was weakening but also that inflation expectations could become de-anchored after a long period of above-target inflation. Lex meanwhile considers “three mysteries” contained in the minutes. Read more

BoE minutes reveal QE split

Izabella Kaminska joined FT Alphaville in October 2008. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP's internal magazine.

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| Nov 18 2009 10:08 | Comment |

Minutes from the Bank of England’s last policy meeting on November 4 and 5 have been released. And there are number of points to pick over.

The most interesting is that the MPC was  split three ways in voting to extend asset purchases by £25bn. Read more