'But its not today's inflation rate that drives interest rate decisions,' Lambert wrote.
'Rates take time to have an impact -- so the bank must judge where the economy and inflation might be heading which is always uncertain,' he added.
His comments were made after the CP
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- Dudley backs floor-based system for setting monetary policy
- The Bank of Italy’s approach to risk-based budgeting
- Asian Infrastructure Investment Bank – Raising expectations