The @bankofengland Monetary Policy Committee has a favourite chart at the moment....
.... it is a measure of real time spending from its own CHAPS payment system.
BoE won't (yet) publish the data daily for no good reason, but here it is in three Acts
1. Haldane "so far, so V"
.... it is a measure of real time spending from its own CHAPS payment system.
BoE won't (yet) publish the data daily for no good reason, but here it is in three Acts
1. Haldane "so far, so V"
@bankofengland 2. Tenreyro: "social consumption is not recovering as quickly"
@bankofengland 3. Haskel (today): " consumption is bouncing back"
(Actually it doesn't show that - it shows consumption recovery has stalled and is moving backward!)
(Actually it doesn't show that - it shows consumption recovery has stalled and is moving backward!)
If the @bankofengland MPC love this chart so much and disagree so much about what it shows, surely there is all the more reason - for transparency and legitimacy of the central bank - it should publish the underlying data daily, the methodology and a longer-run back series
ENDS
ENDS
