Edmund Conway

When he appeared before the Treasury Select Committee back in February, Mark Carney was asked whether he was prepared to be outvoted when he sat on the Monetary Policy Committee. “Yes,” he responded. “I would like to be on the right side more often than not; but obviously I would

[https://i0.wp.com/www.edmundconway.com/wp-content/uploads/2013/07/regions.jpg?ssl=1] Useful chart from Capital Economics showing the divergence in economic experience between different parts of the UK. Underlines that this isn’t merely a London vs the rest of the country story. On some metrics

The value of one pound from 1750 to 2011. Essentially, one decimal penny from 1750 (eg the equivalent of £0.01) was worth the equivalent of about £1.80 in today’s money. From this wonderful House of Commons library paper [https://www.parliament.uk/briefing-papers/RP12-31]. Below is the

[https://i2.wp.com/www.edmundconway.com/wp-content/uploads/2013/07/currentaccounts.jpg?ssl=1] Following on from my blog on Portugal yesterday [https://www.edmundconway.com/2013/07/portugal-the-wrong-kind-of-austerity/], this chart above (from Citi) underlines the fact that while some the peripheral countries in the eurozone are reducing the

Let’s get this straight: Today the Bank of England did nothing to interest rates. It did nothing to quantitative easing; it even went so far as telling us that it would continue doing nothing a long, long way into the future. And yet this all this doing-nothing amounted to

On the face of it, the political implosion in Portugal, and the consequent return of the euro crisis, might strike some as surprising. Since last summer, and Mario Draghi’s commitment to do “whatever it takes”, bond yields in the euro area have been in decline. And although it has