Video Related To: Debt crisis: Global markets growth worries depress shares as central banks eyed

7 Jun 2012 Bloomberg Vicky Redwood is of Capital Economics. This is a very nice video. She is a lovely analyst but Manus Cranny knows the deal with regard to the abject failure of the current central bank paradigm. Rates on hold, QE on hold, nothing for certain anymore...the collective knowledge on monetary policy seems to have disappeared at the Bank of England and at all central banks and fiscal authorities around the world. Background: Bank of England keeps QE on hold. [Were you surprised in any way that they held steady today on Quantitative easing?] I was a bit surprised that they didn't take some more action. Maybe it's the fact that we had a solid sales report that held them back. [What will it take for the BOE to move? Do we need to fall off a cliff? I want some sense of you the economics community and the MPC. Have they walked down a high street outside of the M25 in the past 3 months?] I think they are close to it. They are worried about economic growth. They just have concern on inflation, core inflation is taking its time to come down. [But he did say that it will return to below trend by the end of this year with oil prices lower?] There is certainly an argument that the MPC should stimulate confidence. But they have had their fingers burnt in the past. They want to see more evidence that inflation is coming down to target. [What do you expect? I think they could go next month or August. Another £50bn of QE [Wow] [WHAT IS THAT GOING TO DO FOR GROWTH? FOR THE <b>...</b>