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Ramsden: Shocks, uncertainty and the monetary policy response
It’s a pleasure to be here today and to be speaking at this NFU conference. And a particular pleasure to be able to be here in Birmingham and speaking to you all face to face on behalf of the Bank of England. I know how pleased my late mother would be too: she was born on a mid-Wales hill farm, and throughout her life maintained a strong link to her roots. These are challenging times for the economy and for the farming industry in particular. The issues you are discussing at this conference – uncertainty, cost pressures, food security and sustainability – are crucial ones for the UK’s economic resilience and ... (full story)
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#BOE'S RAMSDEN: SOME MODEST FURTHER TIGHTENING NEEDED ON RATES - BBG
— Christophe Barraud (@C_Barraud) February 22, 2022
*BOE'S RAMSDEN: U.K. INFLATION WILL HAVE `REAL CONSEQUENCES'
*BOE'S RAMSDEN: MUST PREVENT `SECOND ROUND' EFFECTS ON INFLATION
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BOE'S RAMSDEN: UNCERTAINTY MAKES IT EXTREMELY DIFFICULT TO PREDICT WHERE MONETARY POLICY WILL GO IN THE MEDIUM TERM.
— Breaking Market News (@financialjuice) February 22, 2022
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BoE's Ramsden (voted 50bps at Feb meeting)
— DailyFX Team Live (@DailyFXTeam) February 22, 2022
- Further modest tightening in monetary policy is likely appropriate in the coming months
- Energy price shock has created a particularly challenging trade-off for the MPC to manage
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- Also downside risks to inflation ahead and risks from tightening monetary policy too much
— DailyFX Team Live (@DailyFXTeam) February 22, 2022
- We will need to remain watchful and responsive to events as they unfold
- Uncertainty makes it difficult to make predictions about where monetary policy might be headed in medium term
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