Free Trial

Monpol transmission slower for exchange rate than average

BOE
  • Part of the reason for the resilience may be due to the very large monetary policy tightening having not yet passed through.
  • Would normally expect faster transmission through exchange rate effects. Have not really seen those. That might explain why transmission has been slower relative to the average - but this does not necessarily mean we won't see those effects come through in the future.
  • Mortgages have shifted to longer-dated rather than variable. Evidence still open if that has slowed transmission or not.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.