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MNI INTERVIEW: Clear Case For BOE Alternative Scenarios - Bean

(MNI) London

With the Bernanke review soon to be released, ex-BOE Deputy Governor Chales Bean sees a case for the BOE to use alternative scenarios.

The Bank of England could enhance its policy communication by publishing alternative scenarios for inflation, former Deputy Governor Charles Bean told MNI ahead of the April publication of a review into the BOE’s forecasting by former Federal Reserve chief Ben Bernanke.

Bernanke has taken detailed evidence from current and former Bank staff and policymakers in his review, which has also looked at the possibility that the BOE could publish its own projections for interest rates, but Bean said he saw more support for alternative scenarios.

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The Bank of England could enhance its policy communication by publishing alternative scenarios for inflation, former Deputy Governor Charles Bean told MNI ahead of the April publication of a review into the BOE’s forecasting by former Federal Reserve chief Ben Bernanke.

Bernanke has taken detailed evidence from current and former Bank staff and policymakers in his review, which has also looked at the possibility that the BOE could publish its own projections for interest rates, but Bean said he saw more support for alternative scenarios.

Keep reading...Show less