Good policy vs accurate forecasts - speech by Gertjan Vlieghe

Given at Bloomberg Headquarters, London
Published on 05 April 2017

In this speech, Monetary Policy Committee member Dr Gertjan Vlieghe argues that there is a distinction between good monetary policy and making accurate forecasts. He illustrates these points using the experience of the pre-crisis mid-2000s, the aftermath of the financial crisis and the period following the EU referendum in 2016. Dr Vlieghe then reflects on the implications for current and future monetary policy.

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