BoE Allsopp - tighter fiscal stance needed

Central Banking staff
04 Dec 2000

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The British government should tighten its tax and spending plans if it wants lower interest rates, Bank of England rate-setter Christopher Allsopp said in a book published Monday.

"If the Treasury were to wish to lower interest rates with a view to lowering the exchange rate, it would do well to contemplate a tighter fiscal policy," Allsopp was reported to have written.

He said that in the current regime where the central bank has independence to set interest rates, the Treasury needs to take

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