BoE's King on facing up to uncertainty

In the speech 'What fates impose: Facing up to uncertainty' given on 1 December, Mervyn King, governor of the Bank of England said transparency about what we know and what we don't know, far from undermining credibility, helps to build trust and confidence in policy-makers. That is the spirit in which the Monetary Policy Committee was created and continues to function.

King concludes the lecture by saying: "Recognising and modelling risks means understanding the limits to our present knowledge

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