Hints and tips:
...Letter in response to this article: BoE has been too timid / From Matthew Clements, London SW1V, UK...
...“As the variable rate or the underlying BoE rate crept up, so have our interest payments.”...
...“While the Fed is starting to discuss the potential for rate cuts, the choice for the BoE is still solely between holding or hiking,” said Matthew Landon, global market strategist at JPMorgan Private Bank...
...— Matthew Perry, the best Friend I never knew (The Bluestocking) — Would you trust Elon Musk with your “entire financial life”?...
...Were UK inflation to fall back to its 2 per cent target, the BoE would cheerfully accept the praise. So it must take the rap when it doesn’t. Matthew Clements London SW1V, UK...
...“The BoE didn’t quite follow suit.”...
...The BoE has signalled that it is ready to cut its benchmark rate from a 16-year high of 5.25 per cent provided it sees “more evidence” of price rises slowing....
...Matthew Landon, global market strategist at JPMorgan Private Bank, warned the data would almost certainly delay a policy pivot from the BoE: “Markets may be too enthusiastic about how many cuts the [BoE]...
...Six of these will produce more than 700,000 boe/d each — more than some Opec member countries....
...However, BoE officials have given mixed signals....
...“They pretty much are in a league of their own when it comes to the scale of their operations,” said Matthew Bernstein, an analyst at consultancy Rystad Energy....
...As soon as running QT becomes a problem, it can be shut off, as the BoE demonstrated during the gilts market crisis. So a new QE programme sends a louder signal to markets (Fed to the rescue!)...
...But Matthew Swannell, economist at BNP Paribas, offered another reason why the MPC might want to act aggressively now, rather than playing for time....
...Financial markets expect the BoE to continue to raise interest rates beyond the current level of 5 per cent....
...“Undoubtedly, the surge in gilt supply along with quantitative tightening is weighing on prices,” said Matthew Amis, investment director at Abrdn....
...Matthew Ryan: Elevated household energy bills remain a big obstacle for the UK economy....
...“It is not starting to hurt yet,” said Matthew Leonard, director at estate agent Winkworth in Bath, but added that the sales market was “definitely quieter” in recent weeks....
...During that period, the BoE pursued 25 successful enforcement cases, including a 2018 action against then-Barclays chief executive Jes Staley over whistleblowing infractions, which resulted in a £640,000...
...“Markets wanted to rally and are getting very excited, looking past anything slightly more hawkish” said by officials at the three central banks, said Matthew Rees, head of global bond strategies at Legal...
...To ease the pressure, the BoE stepped up its support for pension schemes on Monday by expanding the range of collateral that could be pledged at its new short-term funding facility....
...Matthew Pointon, property economist at the consultancy Capital Economics, said: “Hopes that mortgage rates will fall back significantly and quickly are misplaced.”...
...Matthew Nunan, partner at Gibson Dunn and former head of wholesale enforcement at the Financial Conduct Authority, said allowing politicians to overturn regulatory decisions was “a recipe for disaster”....
...“It’s been one-way traffic since the beginning of August,” said Matthew Russell, fixed income fund manager at M&G Investments, about the gilt moves. “The moves have been outsize.”...
...Matthew Ryan: It may be tougher for the MPC to rein in inflation than it is perhaps willing to accept....
...The BoE has more inflation, an open economy, a current account deficit, a leveraged economy, terrible energy sector infrastructure, Brexit challenges . . ....
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