Economists urge BoE to be more transparent on rate paths

Value of scenario analysis depends heavily on revealing reaction function, speakers say

Charlie Bean
Charlie Bean
Bank of England

Economists, including former Bank of England (BoE) policy-makers, have called on the bank to be much more transparent about its modelling choices, including interest rate paths.

Charlie Bean, a former BoE deputy governor; Jan Vlieghe, a former member of the bank’s monetary policy committee (MPC); and Petra Geraats, a professor at the University of Cambridge, all said rate paths were essential to meaningful scenario analysis.

Speaking at the BoE Watchers’ Conference today (November 25), hosted by

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