Simon Pittaway
@simonpittaway.bsky.social
Working on macro, wealth and household balance sheets at the Resolution Foundation.
The MPC's 5-4 split today continued a rising tide of dissenting votes from internal BoE members.
Last year, one-in-five votes cast by internals went against the majority decision - the highest rate of internal dissent since 2005.
This is good! A sign of active debate among the committee.
Last year, one-in-five votes cast by internals went against the majority decision - the highest rate of internal dissent since 2005.
This is good! A sign of active debate among the committee.
February 5, 2026 at 3:54 PM
The MPC's 5-4 split today continued a rising tide of dissenting votes from internal BoE members.
Last year, one-in-five votes cast by internals went against the majority decision - the highest rate of internal dissent since 2005.
This is good! A sign of active debate among the committee.
Last year, one-in-five votes cast by internals went against the majority decision - the highest rate of internal dissent since 2005.
This is good! A sign of active debate among the committee.
Look, I know there's a lot going on in the news right now. But the MPC decision today was actually quite interesting!
They were only one vote away from delivering a cut that wasn't on the cards at all, and they now think inflation will not just drop sharply this year but stay low.
Thread below ⤵️
They were only one vote away from delivering a cut that wasn't on the cards at all, and they now think inflation will not just drop sharply this year but stay low.
Thread below ⤵️
February 5, 2026 at 2:14 PM
Look, I know there's a lot going on in the news right now. But the MPC decision today was actually quite interesting!
They were only one vote away from delivering a cut that wasn't on the cards at all, and they now think inflation will not just drop sharply this year but stay low.
Thread below ⤵️
They were only one vote away from delivering a cut that wasn't on the cards at all, and they now think inflation will not just drop sharply this year but stay low.
Thread below ⤵️
The MPC delivers a bit of a dovish surprise, holding Bank Rate at 3.75% only by a narrow 5-4 margin. Markets were expecting a clear-cut 7-2 vote.
There will be lots of unpack on the Bank’s latest outlook for the economy and the future path of interest rates.
There will be lots of unpack on the Bank’s latest outlook for the economy and the future path of interest rates.
February 5, 2026 at 12:02 PM
The MPC delivers a bit of a dovish surprise, holding Bank Rate at 3.75% only by a narrow 5-4 margin. Markets were expecting a clear-cut 7-2 vote.
There will be lots of unpack on the Bank’s latest outlook for the economy and the future path of interest rates.
There will be lots of unpack on the Bank’s latest outlook for the economy and the future path of interest rates.
Reposted by Simon Pittaway
As interest rates fall, why is Britain’s average mortgage bill set to keep rising in 2026?
In our latest Substack, @simonpittaway.bsky.social unpacks the weirdness of this interest rate cycle. ⬇️
buff.ly/EEQ99bZ
In our latest Substack, @simonpittaway.bsky.social unpacks the weirdness of this interest rate cycle. ⬇️
buff.ly/EEQ99bZ
Why your mortgage bill might rise as rates fall..
Senior Economist Simon Pittaway on 2026's mortgage mystery: how can mortgage bills go up while the Bank continues to cut rates?
resolutionfoundation.substack.com
January 15, 2026 at 11:28 AM
As interest rates fall, why is Britain’s average mortgage bill set to keep rising in 2026?
In our latest Substack, @simonpittaway.bsky.social unpacks the weirdness of this interest rate cycle. ⬇️
buff.ly/EEQ99bZ
In our latest Substack, @simonpittaway.bsky.social unpacks the weirdness of this interest rate cycle. ⬇️
buff.ly/EEQ99bZ
New research out from me today: why has Britain experienced so little productivity growth in recent years? And why (at least up until now) has the US has performed so much better?
Spoiler: it’s not just tech companies and energy prices 🧵
Spoiler: it’s not just tech companies and energy prices 🧵
April 8, 2025 at 9:49 AM
New research out from me today: why has Britain experienced so little productivity growth in recent years? And why (at least up until now) has the US has performed so much better?
Spoiler: it’s not just tech companies and energy prices 🧵
Spoiler: it’s not just tech companies and energy prices 🧵
The UK economy unexpectedly grew by 0.1% in the last quarter of 2024 on the back of an unexpectedly strong December. But yet another fall in GDP per capita underlines our ongoing living standards squeeze. A thread on the key takeaways from today’s data.🧵
February 13, 2025 at 9:58 AM
The UK economy unexpectedly grew by 0.1% in the last quarter of 2024 on the back of an unexpectedly strong December. But yet another fall in GDP per capita underlines our ongoing living standards squeeze. A thread on the key takeaways from today’s data.🧵
Reposted by Simon Pittaway
One reason why UK low-income households are especially poor (by intl. standards) is the cost of goods & services for this demographic. What’s behind this – and what should be done? @simonpittaway.bsky.social of @resfoundation.bsky.social explores #LSEInequalitiesBlog
Why is Britain a particularly pricey place to be poor?
Lower-income households in the UK are significantly poorer than their counterparts in countries like France and Germany. What’s more, the gap in living standards gets wider still when you fac…
buff.ly
January 29, 2025 at 9:41 AM
One reason why UK low-income households are especially poor (by intl. standards) is the cost of goods & services for this demographic. What’s behind this – and what should be done? @simonpittaway.bsky.social of @resfoundation.bsky.social explores #LSEInequalitiesBlog
Are any marketsy people on here able to explain why gilt-OIS spreads have risen so much over the past year?
The timing is consistent with QT being the driver, but that's only circumstantial evidence.
The timing is consistent with QT being the driver, but that's only circumstantial evidence.
January 29, 2025 at 9:08 AM
Are any marketsy people on here able to explain why gilt-OIS spreads have risen so much over the past year?
The timing is consistent with QT being the driver, but that's only circumstantial evidence.
The timing is consistent with QT being the driver, but that's only circumstantial evidence.
When comparing incomes across countries, we adjust for the local price of all goods and services (known as purchasing power parity, or PPP). But when comparing the incomes of poorer households, shouldn’t we focus on the price of things that matter most to them?🧵
January 13, 2025 at 12:21 PM
When comparing incomes across countries, we adjust for the local price of all goods and services (known as purchasing power parity, or PPP). But when comparing the incomes of poorer households, shouldn’t we focus on the price of things that matter most to them?🧵