BOE’s Haldane: Risks to interest rates are two sided and symmetric
|The Bank of England (BOE) Chief Economist Andy Haldane is on the wires now, testifying on the February inflation report before the Treasury Select Committee (TSC).
Key Headlines:
There was collective amnesia at central banks in the run up to the last crisis
Scope to improve forecasting is more limited than weather forecasting
Is comfortable with a broadly neutral stance on the likely course of interest rates
Risks to interest rates are two sided and symmetric
We would be concerned if there was a too sharp rise in market interest rates
Too sharp a rise in market rates could tighten credit conditions and hit consumer spending
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