Philip Shaw Quotes

"The economy has been growing at a sub-par pace for five quarters now and we cannot see that situation changing over the next year or so."

"The PMI is a big upside surprise ... and is at least hinting that services growth stepped up at the end of last year."

"The main point though is that output growth has now been below trend for five quarters and we can't see that changing over the next year or so,"

"Everybody's looking toward consumer confidence in the States tomorrow, followed by other data later in the week."

"The main message here is the unremitting strength of the mortgage market."

"I was surprised that the relationship between intelligence and brain structure changed so much as a child grows up. In early childhood, the smartest children had a thinner cortex -- this is the opposite of what you'd expect. By late childhood, the pattern had changed completely."

"This underpins our view that interest rates will have to come down again although the MPC caution on inflation suggests that's not going to happen until early next year."

"And we find the most intelligent children started off with a relatively thin cortex, but it then got thicker relatively rapidly, reached its peak thickness in certain key areas several years later but then also got thinner quicker."

"The figures are better than expected and although petrol prices have come down, there is an improvement in core rate of inflation."

"Although it is clear the Bank is planning to keep rates on hold for now, our view is the MPC is still too optimistic on growth."