Ex-BoE policymaker Goodhart favours expanding balance sheet over NGDP target

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Former Bank of England Monetary Policy Committee (MPC) member Charles Goodhart said this week he expects the major impact of a new governor of the Bank of England (BoE) ought to be a broadening of the range of instruments it uses for monetary expansion, rather than adopting a nominal GDP target.

Speaking to Centralbanking.com, Goodhart – a senior economic adviser to Morgan Stanley and director of the Financial Regulation Research Programme at the London School of Economics – said "the

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