BoE's Greene says lots of reasons why situation now is different to 2022-23; rates are higher, more slack in the economy compared with 2022-23
Importance
Level 1
- Trade-off for monetary policy could be bigger this time with greater downside risks for the economy.
- There is a risk inflation expectations will rise.
- She was not tempted to vote for a hike at the March BoE meeting.
- No clear productivity boost from AI so far in the UK.
- BoE is not seeing a massive productivity gain in the next 3 years.
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