Economists urge BoE to be more transparent on rate paths
Value of scenario analysis depends heavily on revealing reaction function, speakers say
Economists, including former Bank of England (BoE) policy-makers, have called on the bank to be much more transparent about its modelling choices, including interest rate paths.
Charlie Bean, a former BoE deputy governor; Jan Vlieghe, a former member of the bank’s monetary policy committee (MPC); and Petra Geraats, a professor at the University of Cambridge, all said rate paths were essential to meaningful scenario analysis.
Speaking at the BoE Watchers’ Conference today (November 25), hosted by
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