Nemat Shafik says people should concentrate on economic path being taken in UK rather than fixating on when exactly interest rates will go up
Knowing precisely when interest rates will rise is not what really matters, a senior Bank of England official has said, as she insisted its system of “forward guidance” was not failing.
The Bank’s latest forecast signalled the cost of borrowing may not increase for a year, despite the governor, Mark Carney, previously saying the decision would come into “sharper relief” by now.
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