BoE paper offers methods for policy-making under uncertainty
Forecast-based, news-based and rules-based methods can be used together, authors say
Research published by the Bank of England offers several methods central banks can deploy to set monetary policy when the outlook is highly uncertain.
The “macro technical paper”, published today (October 17), forms part of the BoE’s ongoing efforts to reform its policy-making in the wake of former Federal Reserve chair Ben Bernanke’s review.
“Theory-based approaches to solving the monetary policy problem assume environments that are too simplified to be applied directly to the practical policy
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com test test test
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com test test test
More on Monetary Policy
NBFIs could dent transmission – Bundesbank board member
Growing non-bank activity could diminish banking channel’s importance, says Köhler-Geib
BoE’s Pill focused on ‘nominal momentum’ in UK economy
Chief economist says inflation dynamics seem to have changed, but there is a lot of noise in the data
Fed vice-chair says progress on inflation has stalled
Jefferson pushes for caution as US central bank lowers rates towards neutral
BoE paper highlights ‘cost-of-carry’ channel of monetary policy
High inventory levels can boost transmission, authors say
IMF sees room for further easing in Thailand
Country’s household debt challenges compounded by other shocks, mission head says
South Africa lowers inflation target from 4.5% to 3%
Sarb governor’s wish finally granted as finance minister announces change during budget review
Monetary Policy Benchmarks 2025 – model banks analysis
Data breakdowns shed light on policy risks, transparency and balance sheet tools
Monetary Policy Benchmarks 2025 – executive summary
Data reveals risks to the outlook, applications of scenario analysis and balance sheet policy