Stronger pound has pushed down UK inflation rate, says BoE's Forbes
MPC member says 14.5% appreciation will have powerful effects
Exchange rate movements usually impact the wider economy with a lag, suggesting the pound's 14.5% appreciation between March 2013 and July 2014 will have powerful effects over the coming quarters, Kristin Forbes, a member of the Bank of England's monetary policy committee said yesterday in London.
Speaking at an event organised by 100 Women in Hedge Funds at the Canada Imperial Bank of Commerce, Forbes said the stronger exchange rate had likely contributed to the FTSE's underperformance relative
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: http://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
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
More on Monetary Policy
Russia pauses tightening, but warns rates will stay high
Central bank governor says inflation expectations are at risk of becoming unanchored
Colombia surprises markets and slows easing cycle
Quarter point cut a “strong message” of independence by central bank, analysts say
Mexico continues easing with quarter-point cut
Analysts think larger reduction is plausible but central bank stays cautious
Central Bank of the Philippines cuts policy rate by 25bp
Third reduction in a row follows Fed’s quarter-point cut
BoJ holds rates, completes broad monetary policy review
Governor admits bank has been slow to raise rates, but highlights need to assess wage data and US policy
Sweden makes further cuts, but Norway continues to hold
Riksbank reduces rates by 25bp, but Norges Bank maintains more hawkish approach
BoE holds rates as UK inflation hits eight-month high
Decision closer than expected as members unsure about implications of government budget
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, and ending interest on minimum reserves