F3 » Oz: Evans crushes field to take second pole award

Report Comment

You are about to report the comment below to the Crash.Net moderators as being abusive. An abusive comment may contain profanity, personal attacks or commercial SPAM.

Please do not report this comment as being abusive if you simply disagree with the comment posted. If this is the case then you can click on the "disagree" icon () in the upper right of the comment's post to show your dissatisfaction.

Crash.Net moderators will view all reported comments and will act as they deem necessary. This may be editing the comment or total deletion.

I'm no apologist for the BOE, but I think that algaony is poor.They have plainly allowed people to have a party . They have allowed CPI inflation go to 5% way above target and then started expanding the monetary base even further. It is generally very clear from their messaging that they set policy to target their forecast for CPI on a 2yr-ish horizon. They even allowed that forecast to drift too high earlier in 2011, without tightening to correct that. So again, they allowed the party to go on.They are also very explicit that they only be reversing QE at a time in the future when they need to be tightening policy. Their comms are pretty good on that front.Obviously the main problem is that CPI inflation is disconnected from the level of nominal demand. It is not the right target. But I think you can make a case that they are doing the right thing within their mandate.The latest BOE inflation report is filled with references to how QE boosts nominal demand/spending. Seve

© 1999 - 2015 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.