Britain at the most difficult time for monetary policy since 1992: BOE Broadbent


Bank of England Deputy Governor Ben Broadbent will attend the Bank of England News Conference on November 1, 2018 in London, England. (Kirsty O’Connor / Pool via Reuters)

London — The Bank of England has been at the most difficult time in monetary policy since it began targeting inflation 30 years ago, Bank of England Deputy Governor Ben Broadbent said Wednesday.

Broadbent said in an annual report to Congress that there is no guarantee that the effects of inflation from rising import prices will diminish rapidly, adding that interest rate setters will closely monitor domestic cost pressures.

He said he still doesn’t know what that means for policy making.

“This is the most difficult time for monetary policy since inflation targeting began in 1992,” he writes.

Reuters

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