Having only joined the Bank in September, this is my first public speech as a member of the Bank’s Monetary Policy Committee (MPC). With inflation having risen to well above its 2% target and forecast to approach 5% next spring, it is a challenging time for monetary policy. Joining the Bank at this moment has proved something of a baptism of fire. To describe how I think we at the Bank should meet these challenges, I thought I would take advantage of my debut speech to review the MPC’s most recent policy decisions and explain how I see their rationale. At its November meeting, the MPC decided to maintain Bank Rate at ... (full story)