BoE’s Forbes outlines new thinking on current account imbalances

kristin-forbes-mpc
Kristin Forbes. Photo: Bank of England
Bank of England

Focusing on financial flows linked to the current account could give policy-makers a better idea of how dangerous large imbalances are for an economy, the Bank of England's Kristin Forbes said today (March 21).

The UK's current account is in deficit, with the gap widening from 3.3% of GDP in 2012 to 5.1% in 2014. Many commentators, including the International Monetary Fund, now view it as a source of vulnerability.

Monetary policy committee member Forbes said during an event organised in London

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