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What happened to the communication? (1/2)

BOE

Ahead of both the November and December MPC meetings we had no fewer than 8 significant speeches or comments from MPC members ahead of each decision. Since the December MPC meeting, we have only really hard from Mann (and to a lesser extent Bailey as he testified before the Treasury Select Committee regarding the FSR).

  • Of course we have had a holiday period over Christmas / New Year but it still feels a notable drop in the frequency of communication in comparison to the other meetings.
  • So what is the reason? We know that new Chief Economist Pill is not a huge fan of forward guidance. Ahead of the December meeting Broadbent said that he never makes up his mind on which way to vote at a meeting until he has been presented with the updated facts and heard the arguments of his colleagues. He seemed almost irritated at the frequency he was asked about his future voting intentions.
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