Time to make doves cry
Jagjit Chadha warns of the perils of discretion as UK inflation is not securely converging on the target
The move to better communications and further transparency at the Bank of England is very welcome as a part of the response to the failures of inflation management over 2021–23 and to the Bernanke Review. As of November 2025, the BoE now publishes paragraphs of the individual perspectives of monetary policy committee (MPC) members and some stylised interest rate scenarios. These extensions of openness are designed to demonstrate that the decision-makers at the bank are cognisant of uncertainty
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