Scotsman.com (Free subscription) | 20/08/2008
BANK of England policymaker Professor Tim Besley has reinforced his hawkish stance on interest rates, arguing that they need to remain high if inflation is to be "nipped i
Times Online (Free subscription) | 19/08/2008
A renewed warning that inflation-busting pay deals will stoke inflation and force the Bank of England to keep interest rates higher, for longer, was issued today by Professor Tim Besley, the most hardline member of its rate-setting Monetary Policy Committee.
Reuters UK (Free subscription) | 19/08/2008
LONDON (Reuters) - Bank of England monetary policy committee member Tim Besley said on Tuesday the Bank faced a difficult task in fine-tuning monetary policy to try to help the economy whilst also keeping inflation in check.
Market Watch (Free subscription) | 17/09/2008
LONDON (MarketWatch) -- The Bank of England's rate-setting Monetary Policy Committee voted 8-1 at its Sept. 3-4 meeting to leave its key interest rate unchanged at 5%, with MPC member Tim Besley dropping his August call for a quarter-point rate hike, according to minutes of the meeting released Wednesday. MPC member David Blanchflower continued a push for lower rates and voted against the action,...
Times Online (Free subscription) | 18/09/2008
The barrage of bad news and a record of the debate by the Bank's Monetary Policy Committee (MPC) at its meeting this month boosted hopes that the Bank eventually would bow to pressure to cut interest rates, although perhaps not until the spring. The MPC minutes showed the interest-rate setting committee edging towards an eventual rate cut, with Tim Besley, the committee's most hawkish member,...
Market Watch (Free subscription) | 17/09/2008
The minutes showed that MPC member Tim Besley dropped his August call for a quarter-point rate hike, joining seven other members in voting to leave the key lending rate steady at 5%. David Blanchflower, who has repeatedly called for rate cuts while sounding the alarm over the potential for a steep economic downturn, called for a half-point cut.
The Guardian (Free subscription) | 17/09/2008
... months, the MPC has been split three ways, with Blanchflower's calls for a reduction matched by Tim Besley's vote for a small increase in rates to tackle inflation. To the surprise of the City, however, Besley voted for no change this month.The minutes show that the MPC judged that while there had been upside and downside news over the month, but that the outlook had not markedly...
The Telegraph (Free subscription) | 17/09/2008
... of the vote boosted expectations that the MPC is moving closer toward cutting rates as policymaker Tim Besley did not repeat his call for an increase in rates, as he had done in previous months. The Bank is under intense pressure to cut rates either in October or November to help the ailing economy, which is on the edge of a recession. It would also help ease pressures on many mortgage holders,...
Financial Time (Free subscription) | 17/09/2008
The Bank of England’s Monetary Policy Committee voted 8-to-1 to hold rates steady at 5.0 per cent at its September meeting, citing concerns about the sharper than expected decline in sterling and the fears that sharply rising import prices will linger longer than had been expected.One member, David Blanchflower, urged a half a percentage point cut. However, Tim Besley, who had urged a rise in...
Property investments (Free subscription) | 09/09/2008
With the exception of the hawkish Professor Tim Besley, it is hard to find anyone who advocates or expects the Bank o... Source: news.assetz.co.uk Hedge Funds Post Modest Losses Amongst Mixed Markets in August - MarketWatch Hedge Funds Post Modest Losses Amongst Mixed Markets in August MarketWatch - 19 hours ago "The lack of market direction and continued uncertainty in credit markets is certainly...
icWales (Free subscription) | 12/09/2008
... for their focus on inflation, hitting back at a newspaper article by fellow committee member Tim Besley – who voted to raise rates in July and August.
Metro.co.uk (Free subscription) | 11/09/2008
... for their focus on inflation, hitting back at a newspaper article by fellow committee member Tim Besley - who voted to hike rates in July and August. Unemployment is at 1.67 million at present, or 5.4 per cent of the population. Mr King said the UK faced "testing times" as the Bank's MPC also grapples with inflation at more than double its 2% target due to surging oil, food and energy costs....
Reuters UK (Free subscription) | 03/09/2008
... central bank's 2 percent target.The nine-member policy committee was split three ways last month. Tim Besley wanted to hike rates to make sure high inflation spread through the economy.David Blanchflower wanted to cut rates to ease the economic pain and has since signalled that he might even vote for a half-point cut in borrowing costs this month as he thought the economy was already in...
Channel 4 (Free subscription) | 03/09/2008
... Blanchflower was hitting back at a newspaper article by fellow committee member Tim Besley, who has warned letting inflation get out of control would be "damaging and dangerous to the economy" and herald a return to the 1970s.Data published this week showed manufacturing activity shrinking for the fourth consecutive month in August, with construction contracting for the sixth month in a...
Reuters UK (Free subscription) | 03/09/2008
... central bank's 2 percent target.The nine-member policy committee was split three ways last month. Tim Besley wanted to hike rates to make sure high inflation spread through the economy.David Blanchflower wanted to cut rates to ease the economic pain and has since signalled that he might even vote for a half-point cut in borrowing costs this month as he thought the economy was already in...
