In this speech Ben asks whether the transmission of monetary policy is better understood in terms of its impacts on interest rates and bond yields, on the one hand, or monetary aggregates on the other. He considers the relationship between those aggregates and inflation, both over the past and more recently. He also explains how the MPC takes account of “QT” in
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Monetary Policy: Prices Versus Quantities - Speech By Ben Broadbent, Bank Of England, Deputy Governor, Monetary Policy Given At The National Institute Of Economic And Social Research
Date 25/04/2023
