The Bank of England has been trying to clarify what it was doing when it launched its policy of forward guidance, committing not to think about tightening monetary policy until unemployment fell to 7% (provided....). The fog is lifting somewhat, but lots of questions and puzzles remain.
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Comments on retrospective guidance on forward…
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The Bank of England has been trying to clarify what it was doing when it launched its policy of forward guidance, committing not to think about tightening monetary policy until unemployment fell to 7% (provided....). The fog is lifting somewhat, but lots of questions and puzzles remain.