Bank of England Monetary Policy Committee.......>

BOE: Bank of England Monetary Policy Committee member Silvana Tenreyro set out

in a speech Monday how macro-models may be underestimating the impact of higher

trade barriers, how the dominance of the dollar in trade invoicing may have only

marginal effects and how the sovereign/domestic bank "doom loop" may be

overblown. Her speech did not directly focus on current policy. She highlighted

the risks of using partial equilibrium models to assess economic impacts and

also stressed the need to gather detailed evidence to establish if theoretically

appealing ideas hold weight in the real world.