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Analysis and Comment (11)

Making things black and white at The Bank of England. Making things black and white at The Bank of England. Mark Cornelius/Bank of England

ECB drama highlights the central bank transparency dilemma

When the European Central Bank sent markets reeling yesterday with moves designed to stimulate growth, the 24 people who made that decision could remain comfortable that their exact arguments and misgivings…
The Bank of England’s latest communication strategy has been dubbed “fuzzy guidance” - but how much should central banks reveal? The Bank of England’s latest communication strategy has been dubbed “fuzzy guidance” - but how much should central banks reveal? Image sourced from www.shutterstock.com

Forward or fuzzy: just how much should central banks reveal?

The effective death of the forward guidance strategy offered by the Bank of England came with the announcement in early February that there would be a switch to a less quantitative approach. Dubbed by…
Anyone need a cash injection? Anyone need a cash injection? Nick Ares

The regressive politics of quantitative easing

When financial markets stood on the verge of collapse in the summer of 2008, two of the world’s most important central banks, the US Federal Reserve and the Bank of England, began considering unorthodox…
Welcome to London. Now would you mind fixing the economy? Welcome to London. Now would you mind fixing the economy? Alastair Grant/PA Wire

Here’s Carney: what to expect of Canada’s superstar banker

Like many Canadians to achieve high office in his country over the past half-century, Mark Carney came from an ordinary, middle-class background. And like his two immediate predecessors as governor of…
The Bank of England: still the key to growth? The Bank of England: still the key to growth? Yui Mok/PA

Ignore the calls for stimulus and stick with Plan A

Many critics of the coalition government’s “Plan A” argue that it should deviate from deficit reduction plans to instead stimulate growth via additional infrastructure spending. Recent advocates of this…
Life’s fine above the poverty line for Mervyn King. Life’s fine above the poverty line for Mervyn King. PA/Yui Mok

Mervyn King’s rosy recovery prediction means little for a shattered nation

The outgoing Bank of England governor Mervyn King has presided over a huge economic crisis. His parting gift is the claim “a recovery is in sight” that the UK might achieve economic growth of even 1% this…
If there’s one thing we can say with certainty, it’s that economic forecasting is far from an exact science. If there’s one thing we can say with certainty, it’s that economic forecasting is far from an exact science. Image from www.shutterstock.com

When it comes to economic forecasting, it’s wise to admit to uncertainty

One certainty about economic forecasts is that, almost certainly, they will prove to be incorrect. The best forecasters can hope for is not to make systematic errors – to get it right on average – and…
The LIBOR scandal has given rise to a vexing question: just who is responsible for the “freewheeling casino” of financial capitalism? The LIBOR scandal has given rise to a vexing question: just who is responsible for the “freewheeling casino” of financial capitalism? higgott

Will Barclays case change the game for casino-style capitalism?

Members of the British Treasury Select Committee, US congressional investigators, state attorney generals and class actions lawyers who are investigating just who knew what and when in the sprawling investigations…
Barclays' manipulation of the LIBOR has raised questions about the Bank of England’s lack of regulatory oversight. Barclays' manipulation of the LIBOR has raised questions about the Bank of England’s lack of regulatory oversight. AAP

Barclays scandal poses uncomfortable questions for Serious Fraud Office

The United Kingdom has had a remarkably poor track record in prosecuting serious economic fraud. In part, this can be traced to deficiencies in the toolkit available to the Serious Fraud Office, a fact…
Barclays - Britain’s largest investment bank - has been fined after it was revealed that the bank had manipulated the London Interbank Offered Rate to boost its trade of credit derivatives and bolster its financial reputation. Barclays - Britain’s largest investment bank - has been fined after it was revealed that the bank had manipulated the London Interbank Offered Rate to boost its trade of credit derivatives and bolster its financial reputation. AAP

Barclays' rate-rigging scandal exposes the rot in UK banking system

The sense of frustration and despair within the British government and regulatory agencies over the behaviour of Barclays in submitting patently false returns to the London Interbank Offered Rate (LIBOR…