If you could ask the BOE MPC one question...

... what would it be?

If I were the chairman of something and we missed our target for over 3 years (now by 160% - ie 2% target - actual - 5.2%) Would I get a knighthood ?

G/L

scose-no-doubt said:

... what would it be?

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"why did you not listen to dave blanchflower?"

why did you move your pension into index linked gilts in 2008

'Would you like the guillotine or the noose?'

no real questions then?

I consider mine to be a very pertinent question ! ..it is symptematic of the malaise at the heat of the UK..politico..politico...politico....blah blah blah..

G/L

scose-no-doubt said:

no real questions then?

Click to expand...

scose-no-doubt said:

no real questions then?

Click to expand...

Has the Bank been conflicted in carrying out its mandate during the last 3 years?

scose-no-doubt said:

no real questions then?

Click to expand...

f ucked if they do f ucked if they dont.

what is reality any more?

Dommo said:

Has the Bank been conflicted in carrying out its mandate during the last 3 years?

Click to expand...

In what sense, Ommod?

Esocs

During the credit crunch, when rates were being slashed, I got the impression that rates were going to be cut regardless of where inflation was. I realise that the bank may have acted strictly speaking within the mandate, but I'm sure it wouldn't be too difficult to manipulate the inflation model du jour to ensure "falling inflation expectations" and justify rate cuts. I am reading between the lines, but I thought it was odd that during the crisis, the governor was still writing an apology letter to the chancellor when it was clearly expedient to cut rates. If (i) inflation is where it is now, and (ii) the mandate is to control inflation, shouldn't rates be raised now? I don't see it in the near term. I may be oversimplifying, but to me, the inflation mandate is taking a back seat. So, I would ask if the mandate has been compromised.

Good question.

Mr Chairman, what are you going to do about the upcoming stagflation? What are you going to do when interest rates will go up, and servicing the 25% of the GDP debt will become a nightmare ?