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BOE: Greene "not going to pre-commit" to any rate path

BOE
Bank of EnglandCentral Bank NewsCEEMEABulletUKGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Greene: "Not going to pre-commit to any path" and notes monpol easing is a gradual process.
  • On neutral rate she says "a number of reasons to believe that long-term neutral has picked up". If that's the case the steady state will be higher. Really hard to put a specific number on it. Can determine direction that there is good reason to believe r* has drifted higher so rates unlikely to go back to pre-pandemic levels.
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  • Greene: "Not going to pre-commit to any path" and notes monpol easing is a gradual process.
  • On neutral rate she says "a number of reasons to believe that long-term neutral has picked up". If that's the case the steady state will be higher. Really hard to put a specific number on it. Can determine direction that there is good reason to believe r* has drifted higher so rates unlikely to go back to pre-pandemic levels.