Home > Monetary Policy > Memo to the IMF: UK Monetary Policy is not “Accommodative”

Memo to the IMF: UK Monetary Policy is not “Accommodative”

UK Article IV consultation, concluding statement:

Monetary policy: maintain accommodative stance

The monetary policy response has been vigorous and appropriate

Monetary policy should remain accommodative

Over the last five years the average rate of UK nominal GDP growth has been 1.8%; to find a similar period of slow nominal growth we have to look back to the 1920s.  Is that the kind of nominal growth which a “vigorous” or “accommodative” or “appropriate” (seriously? “appropriate”?) monetary policy produces?  Hardly.

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Categories: Monetary Policy
  1. May 22, 2013 at 21:21
    • May 22, 2013 at 21:24

      Marcus, this “accommodative” policy has spread like a disease…

      • May 22, 2013 at 22:07

        It´s their way of saying:”Look, we´re doing all we can”!

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