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BoE’s Bailey: Thinks Next Move on Rates Will Be a Cut
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BANK OF ENGLAND'S BAILEY SAYS HE WILL CONSIDER IMF RECOMMENDATION OF MORE MPC PRESS CONFERENCES ALONG WITH BERNANKE SUGGESTIONS
— RedboxGlobal (@RedboxWire) May 21, 2024
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- May 21, 2024 2:57pm May 21, 2024 2:57pm
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post: FED’S WALLER: POLICY WILL HAVE TO ‘BITE’ TO BRING INFLATION DOWN - CNBC post: <=USD>:*FED'S WALLER: DATA IS NOT LOOKING LIKE WE NEED TO RAISE RATES *FED'S WALLER: I THINK MONETARY POLICY IS TIGHT ENOUGH *WALLER: STARTING TO SEE POLICY PUT DOWNWARD PRESSURE ON DEMAND *WALLER: IF DATA WARRANT, COULD CONSIDER CUT AT END OF THIS YEAR post: *FED'S WALLER: IDEA OF ONLY ONE CUT DOESN'T MAKE A LOT OF SENSE
It is a great pleasure to be here at this event, hosted by the LSE’s Financial Markets Group in honour of Charles Goodhart. This evening, I am going to talk about central bank balance sheets and in particular the Bank of England’s balance sheet. An esoteric topic perhaps, but an important one, now more than ever. And it is a topic on which Charles has written extensively. Charles worked at the Bank for nearly two decades, of course, before his distinguished career as a professor here at the London School of Economics. His article “The importance of money”, published in the Bank’s Quarterly Bulletin in 1970 and available on the Bank of England’s website, was a milestone in the study of the predictability of money demand.footnote[1] At the time this was an important issue in debates over monetary control mechanisms and the relative merits of monetary ‘rules’ and policy ‘discretion’, a debate he masterfully summarised in his 1975 book on “Money, Information and Uncertainty”. In this and later work, Charles brought his deep understanding of the nature of financial markets, of banking and of monetary assets to bear, the historical perspective always present. In his 1988 book “On the Evolution of Central Banks” he discussed “how the role and functions of Central Banks have evolved naturally over time, and play a necessary part within the banking system”. Fast forward two more decades – acr post: BoE’s Bailey: We Think the Central Bank Balance Sheet Will Remain Larger Than Before the Financial Crisis Though Not as Large as Today post: BANK OF ENGLAND'S BAILEY: A RANGE OF 345-490 BLN STG IS NOT A BAD STARTING POINT FOR CENTRAL BANK BALANCE SHEET || BANK OF ENGLAND'S BAILEY: REPO PORTFOLIO CAN OFFER A RELIABLE AND FLEXIBLE SOURCE OF RESERVES AS LARGELY ADDITIONAL HIGH-QUALITY LIQUID ASSETS TO THE SYSTEM
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- Posted: May 21, 2024 2:22pm
- Submitted by:Category: Low Impact Breaking NewsComments: 1 / Views: 2,375