BoE's Tucker on uncertainty, monetary policy, risk

In the speech 'Uncertainty, the implementation of monetary policy and the management of risk' given on 19 May Paul Tucker of the Bank of England said consumption growth in the UK today has become far more stable than in previous years, thanks to structural changes in the economy.

"Consumption growth may be less prone to violent lurches than during, say, the 1970s and 1980s," he said in a speech to the Association of Corporate Treasurers in Newport.

Tucker cited the credibility of monetary policy

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