Monetary policy in turbulent times

The global financial crisis has hit the British economy hard, but this does not mean monetary policy should change its focus, said Andrew Sentance, a member of the Bank of England's rate-setting Monetary Policy Committee.

"Monetary policy can play an important role in stabilising the UK economy in the face of shocks from the global economy. But we need to be realistic about what it can achieve in the face of the kind of turbulence we have recently experienced," he said in a speech to Agricultural

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