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Podcast: Beyond Currency
Episode: 22 May 2023 - Inflation to fall quicker than wages
Description: Bank of England Governor, Andrew Bailey, attended a conference in the U.S. in which the amount of advance guidance that is given to the markets of Central Bank monetary policy intentions was discussed.
Over several years, and even up until very recently. There was little market interest in what the Bank was doing since inflation was low for several years, so interest rates were allowed to fall, then over the past eighteen months, as prices of energy and foodstuffs have skyrocketed, tightening of policy has been both necessary and obvious.
At the margin of policy changes, as the Bank...