UK Monetary Policy - How Long Should "The Song Remain the Same"? - speech by Andrew Sentance

In a speech to the Thames Valley Chamber of Commerce in Reading, Dr Andrew Sentance - an external member of the Bank of England's Monetary Policy Committee - explains how his view of economic prospects has shifted and why he voted for a small rise in interest rates in June.
Published on 13 July 2010

Andrew Sentance begins by explaining that last year the economic backdrop was one of sharp falls in demand and rising unemployment, uncertainty about recovery prospects and a general expectation of persistent below target inflation. "A year on, however, the economic situation has changed," he says. Andrew Sentance describes a number of features of the current economic situation that he believes are very different from the expectations of last summer.

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