Predicting Bank of England’s Asset Purchase Decisions with MPC Voting Records

We use MPC voting records to predict changes in the volume of asset purchases. We find, first, that minority voting favoring an increase in the volume of asset purchases raises the probability of an actual increase at the next meeting. Second, minority voting supporting a higher Bank Rate decreases...

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Bibliographic Details
Published in:MAGKS - Joint Discussion Paper Series in Economics (Band 22-2013)
Main Author: Neuenkirch, Matthias
Format: Article
Language:English
Published: Philipps-Universität Marburg 2013
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Online Access:PDF Full Text
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Summary:We use MPC voting records to predict changes in the volume of asset purchases. We find, first, that minority voting favoring an increase in the volume of asset purchases raises the probability of an actual increase at the next meeting. Second, minority voting supporting a higher Bank Rate decreases the likelihood of further asset purchases.
ISSN:1867-3678
DOI:10.17192/es2024.0185