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Breeden notes different behavioural aspects are not fully reflected in models

BOE
  • Breeden says that the Bank's Market Intelligence suggests there is a different behavioural impact on a household coming off a 5-year fix to a household with a floating rate mortgage who sees their mortgage go up in increments.
  • She says that she will want things like this to be added into the models and notes that the models don't fully capture all of the behavioural aspects (in her understanding).

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