from MacroScope:

More Brits than ever have no idea where rates are going

December 5, 2014

Bank of England Governor Carney listens during the bank's quarterly inflation report news conference at the Bank of England in London

So much for forward guidance. More Britons have no idea where interest rates are heading than since records began 15 years ago, according to the latest Bank of England/GfK NOP survey.

from MacroScope:

Still room for improvement with the BoE’s forward guidance, says IMF

July 28, 2014

carney.jpg

There was plenty of support for the Bank of England’s stance on interest rates from the International Monetary Fund in its latest report on the British economy.

from MacroScope:

Why UK rates are well below “normal” in one labour market chart

February 19, 2014

Much ink has been spilled over the past several months over when the Bank of England will eventually raise interest rates from a record low of 0.5 percent, and if they'll do it before the Federal Reserve does. The pound is trading near a five-year high against a basket of currencies as a result.

from Anatole Kaletsky:

Yellen looks toward a Keynesian approach

By Anatole Kaletsky
February 13, 2014

This has been a banner week for the world economy, inspired largely by events in the United States.

from Anatole Kaletsky:

A central banker’s ‘license to lie’

By Anatole Kaletsky
January 30, 2014

Federal Reserve Chairman Ben Bernanke, who retires this week as the world’s most powerful central banker, cannot be trusted.

from MacroScope:

Forward guidance is not fully living up to its name

January 30, 2014

Britain’s economy may have seen one of the fastest rebounds among industrialized nations last year, but half of 56 economists polled by Reuters think the Bank of England has lost some credibility over its handling of the forward guidance policy.

from MacroScope:

Shock now clearly trumps transparency in central bank policymaking

January 29, 2014

The days of guided monetary policy, telegraphed by central banks and priced in by markets in advance, are probably coming to an end if recent decisions around the world are any guide.

from MacroScope:

Another backhand volley from forward guidance

November 8, 2013

Forward guidance is quickly proving to be rather backward.

While it's a favourite game of every punter who's not paid to make predictions to trash the track record of those who are, just about everyone who follows the European Central Bank was stunned by the timing of its decision to cut rates on Thursday.

from MacroScope:

The limits of Federal Reserve forward guidance on interest rates

November 4, 2013

The ‘taper tantrum’ of May and June, as the mid-year spike in interest rates became known, appears to have humbled Federal Reserve officials into having a second look at their convictions about the power of forward guidance on interest rate policy.

from MacroScope:

Time for Fed to rethink its forward guidance?

October 8, 2013

Federal Reserve officials have largely acknowledged by now that leading markets to believe the central bank would reduce its bond buying stimulus in September and then failing to do so was a communications blunder.