BoE’s Sentance: rate policy to offset fiscal tightening
Tightening of monetary policy needs to take into account the potential impact of deficit reductions on demand, activity and inflation, said Andrew Sentance, a member of the Bank of England's monetary policy committee.
Sentance said this implied the monetary stance and the level of interest rates would inevitably vary around the world, between countries and regions, as different authorities made their own judgments about the pace and extent of tightening appropriate to their own circumstances.
He
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