Economists criticise ‘incomplete’ Bank of England guidance
The Bank of England's forward guidance is "incomplete" as it fails to set out the path back to neutral policy and the uncertainty surrounding it, according to a forthcoming piece in the Central Banking Journal.
Richard Barwell, senior European economist at RBS Markets, and Jagjit Chadha, a professor of economics at the University of Kent, believe the Bank of England's Monetary Policy Committee (MPC) should lay out its forecast for "the entire path back to equilibrium".
This would involve
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