In her first speech as Deputy Governor for Monetary Policy, Clare Lombardelli sets out her views on the UK economy and the risks to the outlook. She then presents the Bank's plan to implement the Bernanke Review.
Deputy Governor, Monetary Policy
Clare Lombardelli
Speech
Good morning. Thank you for inviting me. It’s a pleasure to speak at the Bank of England Watchers Conference, in front of many of our key stakeholders. This is my first speech as Deputy Governor for Monetary Policy. So I’ll start by setting out my view on the economy and the outlook – how I am “managing the present”. I’ll then move on to talk about the Monetary Policy Transformation Programme we are undertaking in response to Dr Bernanke’s review – how we are “shaping the future”. This is a big reform programme. We are going to handle uncertainty differently, putting different scenarios - different stories about the economy - closer to the heart of policymaking and communications. To do that, we are making a major investment in our tools, our processes and our people. We have made some progress since the review was published in April, but have a long way to go. We want to engage with you on this journey. I will come back to the details shortly.
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