Home > Bank of England, Crazy Loons > “Current Stance of Policy Looks Broadly Right”

“Current Stance of Policy Looks Broadly Right”

Markit reports:

UK Manufacturing PMI slumps to three-year low in May

Key points:

  • UK Manufacturing PMI at 45.9 in May, from 50.2 in April
  • New orders drop at fastest pace since March 2009
  • Manufacturers cut back output, employment, purchasing and inventories

Never mind folks, MPC member Spencer Dale is on the case:

“At the moment, our view is that … inflation should slow to around the target at the back end of 2013 and as a result the current stance of policy looks about broadly right,” Dale said in a television interview with CNBC.

Spencer Dale shall henceforth be known as “Crazy Loon, Spencer Dale”.

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  1. June 1, 2012 at 19:43

    “Spencer Dale shall henceforth be known as “Crazy Loon, Spencer Dale”.”

    Not as bad as Andrew Sentence, from what I recall.

  2. June 1, 2012 at 20:10

    You must mean “Crazy Loon, Andrew Sentance”. Loons everywhere, L.O.

  1. July 4, 2012 at 14:25
  2. July 25, 2012 at 14:38

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