A Bank of England dovecote?

November 12, 2014

Bank of England Governor and Financial Stability Board (FSB) Chairman Mark Carney arrives for a news conference at the Bank for International Settlements (BIS) in Basel

The Bank of England will produce its quarterly inflation report today. With wage growth still notable by its absence and inflation dropping to just 1.2 percent in September, noises from within the BoE suggest the timing of a first interest rate rise is heading further over the horizon.

Central banking elite under one roof

November 7, 2014

U.S. Federal Reserve Chair Yellen speaks with European Central Bank President Draghi at the Jackson Hole Economic Policy Symposium in Jackson Hole

After European Central Bank chief Mario Draghi managed to mend fences and get his colleagues to sign up to his 1 trillion euros or so target to push into the ailing euro zone economy, Paris hosts its version of the Jackson Hole central bankers meeting.

A first for British politics

October 9, 2014

Nigel Farage, the leader of UKIP drinks a pint of beer in the Gardeners Arms pub in Heywood near Manchester

By this time tomorrow, the anti-EU United Kingdom Independence Party is likely to be celebrating its first member of the Westminster parliament. Polls have just opened in the deprived seaside town of Clacton where the sitting Conservative lawmaker switched to UKIP and called a vote.

The final lap

September 17, 2014

A "Yes" campaign poster is displayed on the Isle of Lewis in the Outer Hebrides

Three opinion polls last night all put Scotland’s anti-independence vote at 52 percent, the secession campaign on 48. If accurate, the “Yes” camp will have to move heaven and earth in the next 24 hours to turn the tables despite having dramatically narrowed the gap.

A Fed dove does Broadway

September 16, 2014

Earlier this month, the chief of the Minneapolis Fed gave an extraordinary speech http://bit.ly/1qUTucn in which he called for higher inflation.

Euro zone inflation to fall further?

July 31, 2014

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Euro zone inflation is the big figure of the day. The consensus forecast is it for hold at a paltry 0.5 percent. Germany’s rate came in as predicted at 0.8 percent on Wednesday but Spain’s was well short at -0.3 percent. So there is clearly a risk that inflation for the currency bloc as a whole falls even further.

Fed and BoE to markets: pay attention to pay

July 15, 2014

A bookie holds a wad of cash on the third day of the Cheltenham Festival horse racing meetingIt is more than a bit ironic that those paid the most to pay attention to incoming data aren’t paying enough attention to pay.

Bank of England, the first mover?

July 10, 2014

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After the European Central Bank kept alive the prospect of printing money and the U.S. economy enjoyed a bumper month of jobs hiring prompting some to bring forward their expectations for a first U.S. interest rate rise, the Bank of England holds a monthly policy meeting.

U.S. hiring may be rebounding, but wage growth is not

July 7, 2014

AThe U.S. job market has finally turned a corner. What is remarkable is that it has taken so long.

The Fed’s taper and the question of the “tag-along” $5 billion

June 12, 2014

By Ann Saphir

Federal Reserve policymakers are expected next week to trim their monthly purchases of bonds by another $10 billion, putting them on track to end the massive program by October or December. So – which will it be, October or December? Some Fed officials are pushing for an answer, and soon.