IEA Featured SMPC

At its final meeting of 2019, the Shadow Monetary Policy Committee (SMPC) voted by eight votes to one to keep Bank rate at 0.75%. Although the vote was held before Parliament decided to hold a General Election on 12 December 2019, none of the Committee members has changed their view. The adverse effects of uncertainty ... Continue reading

In July 2019 the Shadow Monetary Policy Committee (SMPC) voted by six three to keep Bank rate at 0.75%. Concerns about Brexit was one of the critical reasons that those that voted to keep rates on hold did so. Uncertainty about a deal, its terms and an extension of the deadline for the UK to ... Continue reading

Based on its email conducted during early June 2019, the Shadow Monetary Policy Committee (SMPC) voted by a margin of five to four to keep Bank rate at 0.75%. As in May, the vote remains close, with four wanting a ¼ point rise. Those voting to raise rates focussed on the strength of the consumer ... Continue reading

In its March 2019 e-mail poll, the Shadow Monetary Policy Committee (SMPC) elected, by a vote of six to three, to hold rates in March. The three favoured a 0.25% rise. As in previous recent meetings, advocates of holding rates noted that broad money growth continues relatively weak, with some saying that the Bank should ... Continue reading

In its December 2018 e-mail poll, the Shadow Monetary Policy Committee (SMPC) elected, by a vote of six to three, to hold rates in December. The three favoured a 0.25% rise. Advocates of holding rates noted that broad money growth continues relatively weak, with some saying that the Bank should consider re-starting quantitative easing if ... Continue reading