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Q: From MNI on how long it takes for monpol to passthrough

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  • Old ready reckoner it takes 18-24 months for rate hikes to pass through, what is it now?
  • Broadbent says there are times with certain shocks things take longer to pass through but in terms of the marginal effect of policy in terms of the effect of monetary policy, 2 years and beyond, there's a reason we focus on that because that's still roughly our view. So although there are bits that may have got longer, including mortgage cash flow, in terms of the overall I don't think there has been a material change and it's not something there is disagreement across the Committee on.

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