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Podcast: Beyond Currency
Episode: 28 July 2023 - Will MPC follow Fed & ECB with 0.25%?
Description: A position on the Chancellor’s Economic Council is akin to being appointed to the Bank of England’s Monetary Policy Committee but without the responsibility.
The role of the Council is to “second guess” the MPC and make theoretical judgements on monetary policy, but without the responsibility that those decisions have in the “real world"".”
At its latest meeting, the Council, which is made up of seven members including former Bank of England Committee and Karen Ward, Chief Economic Strategist at Investment Bank J.P. Morgan, counselled against further rate hikes for fear that they will push the economy into recessi...