Central bankers give mixed review of BoE forward guidance


When the Bank of England (BoE) introduced a "second phase" of forward guidance, it was admitting that its first attempt was a failure, according to a majority of respondents to the latest CentralBanking.com poll.

Initially, the BoE's Monetary Policy Committee (MPC) pledged to keep its existing policy stance – Bank Rate at 0.5%, stock of asset purchases at £375 billion – at least until unemployment fell to 7%.

The Bank of England began its forward guidance policy in August last year. By November,

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