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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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Published in:MAGKS - Joint Discussion Paper Series in Economics (Band 22-2013)
Main Author: Neuenkirch, Matthias
Format: Article
Language:English
Published: 2013
Subjects:
Monetary Policy
Asset Purchases
Voting Records.
Predictability
Wirtschaft
Bank of England
Monetary Policy Committee
Economics
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.
Physical Description:9 Pages
ISSN:1867-3678
DOI:10.17192/es2024.0185

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