MPC must act boldly to increase benefits of QE, says BCC
05 Apr 2012
- ‘Keeping rates and QE programme on hold was the right decision’
- ‘QE has not led to meaningful increases in lending to businesses’
Commenting on today’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“Following the February increase in Quantitative Easing (QE), the decision to keep interest rates and the QE programme on hold was widely expected. With QE still being implemented, and given the MPC’s self-imposed practice of only buying gilts, this was the right decision. However, last month two MPC members voted for an increase in QE to £350bn. While support for this may be strengthening, we believe that adding to QE would be unnecessary.
“We supported past increases in QE because they eased pressures on the banking system and helped to underpin financial stability. However, this has not led to meaningful increases in lending to small businesses, and the benefits to the real economy have been limited. Increasing QE now would only have a marginal effect. There is ample liquidity in the financial system and there is no need to drive down yields on government bonds further.
"The main policy aim must be boosting the unduly low rate of economic growth by increasing lending to viable businesses. To achieve this, it is vital to make the new credit-easing scheme more substantial. But the MPC also has a part to play. The committee should reconsider its reluctance to include assets other than gilts in the QE programme, such as securitised SME loans. This will make the banks less risk averse, and will help to improve the flow of lending to credit-worthy firms.”
05 Sep 2016
The Higher Apprenticeship in Leadership & Management comprises two qualifications:
- Level 5 Diploma in Leadership & Management
- Level 5 NVQ Diploma in Leadership & Management
Qualifications are awarded by iCQ.
Delegates will typically be employed in middle management roles, or have a junior management role with the potential/aspiration to progress into a more senior role.
01 Aug 2016
The next Executive MBA Mini Masterclass will be held on Monday 1 August, 6pm - 7:30pm, in the Boardroom, Waterfront Building Ipswich. Following on from the last EMBA Mini Masterclass the topic will be Leadership in an Uncertain World, lead by Dr Tom Vine, EMBA Course Leader.
Tom says, “We regularly hear calls for 'strong leadership', not least in times of uncertainty. But what of followership? We rarely ever stop to think what followership involves. In much the same way as politicians are having to acknowledge following the EU referendum an analytical focus on followership will better equip us as leaders. This short session explores the psychological dynamics between leadership and followership and in so doing suggests ways in which we can enhance organisational cohesiveness in times of economic uncertainty.”
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22 Jul 2016
Suffolk Chamber of Commerce, the voice of the business community in the county, unveiled its new branding and identity yesterday (July 21st) in front of over 175 guests at its Willis Rooftop Garden Party.