5 thoughts on “IMM 52: Presentation to the Bank of England Shadow MPC Meeting, April 2026”
Jon Mann
Thanks for this presentation John. On the basis of this analysis, what would you advise the BOE to do with interest rates this week, and in coming months?
Thanks!
My vote, which was endorsed by other Shadow MPC participants, was to keep interest rates unchanged since broad money growth was approriate — neither too fast nor too slow. In my view, the SMPC was supporting the idea that the main priority of the Bank should be to maintain money growth at the present rate, and it should only change Bank Rate if the growth of M4x became too high or too low. It should not react to the current energy price disturbances.
Excellent presentation, As per Newton theory ‘every action has same and equal reaction ‘. You just touch the bad effects.Money growth mainly problem when it crosses the limit. Thanks
Thanks for this presentation John. On the basis of this analysis, what would you advise the BOE to do with interest rates this week, and in coming months?
Thanks!
My vote, which was endorsed by other Shadow MPC participants, was to keep interest rates unchanged since broad money growth was approriate — neither too fast nor too slow. In my view, the SMPC was supporting the idea that the main priority of the Bank should be to maintain money growth at the present rate, and it should only change Bank Rate if the growth of M4x became too high or too low. It should not react to the current energy price disturbances.
Thanks John. I agree. Unfortunately it seems as through the BOE might be fighting the last war.
Excellent analysis
Excellent presentation, As per Newton theory ‘every action has same and equal reaction ‘. You just touch the bad effects.Money growth mainly problem when it crosses the limit. Thanks