The Bank of England’s Monetary Policy Committee (MPC) was set up 25 years ago to use monetary policy to keep the rate of inflation in the UK low and stable. Ben Broadbent talks about its work.
Ben focuses on some of the theory, the practice and the pitfalls of communication about the course of monetary policy over the future (sometimes called “forward guidance”). He stresses the importance of understanding that the path of policy will depend on how the outlook for the economy evolves.
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