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Podcast: Beyond Currency
Episode: 3 July 2023 - Changing of the guard at the MPC
Description: Silvana Tenreyro has been an independent member of the Bank of England’s Monetary Policy Committee since August 2017. Over that time, she has “grown into” her role as its most dovish member.
In her final speech as a member of the committee, she spoke of her concern that if the Central Bank continues to hike rates, it will drive inflation to below the Government’s target of 2%.
She believes that the economy has suffered an external shock as energy prices climbed over the past eighteen months, and while it was correct to hike rates through 2022, the hikes that have taken place ov...