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Interest Publication

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FREE online subscription to the publication that seeks to identify the effects, positive or negative, interest rates have on the economy.

FREE online subscription to the publication that seeks to identify the effects, positive or negative, interest rates have on the economy.

To subscribe or receive samples for any of our magazines contact:

Sign-up to receive FREE digital copies of Interest

Sign-up to receive FREE digital copies of Interest

For more information, please contact our subscriptions team on tel: 01603 476100 or email subscriptions@moneyfacts.co.uk

For more information, please contact our subscriptions team on tel: 01603 476100 or email subscriptions@moneyfacts.co.uk

What is in the Interest publication ?

‘INTEREST’, uses Moneyfacts’ data, intelligent, impartial editorial and graphs to inform readers about what is going on with interest rates to make interest interesting.

‘INTEREST’ is timed to be printed and despatched in advance of meetings of The Bank of England’s Monetary Policy Committee.

Sitting alongside the other leading subscription publications - Moneyfacts, Business Moneyfacts and Investment Life and Pensions Moneyfacts - the new ‘INTEREST’ publication is available free to digital subscribers.

What is in the Interest publication ?

‘INTEREST’, uses Moneyfacts’ data, intelligent, impartial editorial and graphs to inform readers about what is going on with interest rates to make interest interesting.

‘INTEREST’ is timed to be printed and despatched in advance of meetings of The Bank of England’s Monetary Policy Committee.

Sitting alongside the other leading subscription publications - Moneyfacts, Business Moneyfacts and Investment Life and Pensions Moneyfacts - the new ‘INTEREST’ publication is available free to digital subscribers.

What's in issue six: Is it time to ditch Gordon Brown’s interest rate policy?

Nearly 27 years after Gordon Brown’s infamous letters to the Governor of the Bank of England imposing the UK’s rate setting policy, the current edition of ‘INTEREST’ questions whether it is time to rewrite this policy.

‘INTEREST’ reflects that the two letters are almost entirely focussed on controlling retail inflation, with little or no mention of other benchmarks. As a result, UK economic policy since Gordon’s letters has focussed specifically on inflation and everything else has been side lined, if not totally ignored. It is clear that this regime has not put an “end to boom and bust”.

‘INTEREST’ further identifies a number of other flaws in the “framework” set out in Brown’s two letters:

  • The First was to set only one target or objective – inflation – and ignore all the other possible benchmarks – exchange rates, unemployment, GDP, capital inflation all of which featured prominently in the policies of previous Governments.
  • The Second was the over complicated bureaucracy, imposed on the MPC, down to what letters should be sent, and when, if targets were missed. But there was virtually no mention of how they should go about rate setting which is what they were there for.
  • The Third is that it was a mistake to make CPI the measure of inflation. To put it in simple terms, CPI merely measures consumer retail inflation whilst RPI also covers consumer capital inflation (i.e. house prices and mortgage interest rates).  Whilst there are arguments for and against both indices it is of note that most, if not all, of the slumps of the past 70 years have been, at least partially caused by uncontrolled house price inflation such as has happened recently.
  • The Fourth is that the proof of the pudding is in the eating. Whatever the reasons the current rate setting regime has not achieved its objective of eradicating boom and bust.  We have given Gordon’s policy 25 years and it’s time to change.

 

Issue seven published Friday 26 April 2024

What's in issue six: Is it time to ditch Gordon Brown’s interest rate policy?

Nearly 27 years after Gordon Brown’s infamous letters to the Governor of the Bank of England imposing the UK’s rate setting policy, the current edition of ‘INTEREST’ questions whether it is time to rewrite this policy.

‘INTEREST’ reflects that the two letters are almost entirely focussed on controlling retail inflation, with little or no mention of other benchmarks. As a result, UK economic policy since Gordon’s letters has focussed specifically on inflation and everything else has been side lined, if not totally ignored. It is clear that this regime has not put an “end to boom and bust”.

‘INTEREST’ further identifies a number of other flaws in the “framework” set out in Brown’s two letters:

  • The First was to set only one target or objective – inflation – and ignore all the other possible benchmarks – exchange rates, unemployment, GDP, capital inflation all of which featured prominently in the policies of previous Governments.
  • The Second was the over complicated bureaucracy, imposed on the MPC, down to what letters should be sent, and when, if targets were missed. But there was virtually no mention of how they should go about rate setting which is what they were there for.
  • The Third is that it was a mistake to make CPI the measure of inflation. To put it in simple terms, CPI merely measures consumer retail inflation whilst RPI also covers consumer capital inflation (i.e. house prices and mortgage interest rates).  Whilst there are arguments for and against both indices it is of note that most, if not all, of the slumps of the past 70 years have been, at least partially caused by uncontrolled house price inflation such as has happened recently.
  • The Fourth is that the proof of the pudding is in the eating. Whatever the reasons the current rate setting regime has not achieved its objective of eradicating boom and bust.  We have given Gordon’s policy 25 years and it’s time to change.

 

Issue seven published Friday 26 April 2024

We're ready to answer any questions

We're ready to answer any questions

Subscriptions Team

Subscriptions Team

Subscriptions Team

Subscriptions Team

Subscriptions Team

Subscriptions Team

Joanne Green, Subscriptions Manager
Joanne Green
Subscriptions Manager
Louise Hithersay, Subscriptions Assistant
Louise Hithersay
Subscription Assistant
Joanne Green, Subscriptions Manager
Joanne Green
Subscriptions Manager
Louise Hithersay, Subscriptions Assistant
Louise Hithersay
Subscription Assistant
Joanne Green, Subscriptions Manager
Joanne Green
Subscriptions Manager
Louise Hithersay, Subscriptions Assistant
Louise Hithersay
Subscription Assistant

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