BoE’s Forbes points to bias among overworked MPC members
Senior officials at the Bank of England (BoE) may be biased against rate increases in part due to overwork and the pressures of their public roles, outgoing monetary policy committee (MPC) member Kristin Forbes has warned.
“Over my term on the MPC, we have been much quicker to adjust monetary policy in response to downside risks than upside,” she said on June 22.
Delivering her final speech as an MPC member, Forbes said she did not believe the state of the economy was enough to justify the
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