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Monetary Policy and Forward Guidance in the UK

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  • David Miles

Abstract

This paper assesses the case for the use of more explicit forward guidance on monetary policy in the UK. Such a policy was introduced in the middle of 2013. The economic conditions at that time meant that the rule adopted by the Monetary Policy of the Bank of England helped avert some risks to the emerging recovery.

Suggested Citation

  • David Miles, 2014. "Monetary Policy and Forward Guidance in the UK," Manchester School, University of Manchester, vol. 82(S1), pages 44-59, September.
    • Handle: RePEc:bla:manchs:v:82:y:2014:i:s1:p:44-59
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    File URL: http://hdl.handle.net/10.1111/manc.12069
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    References listed on IDEAS

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    6. Reinhart, Carmen & Rogoff, Kenneth, 2009. "This Time It’s Different: Eight Centuries of Financial Folly-Preface," MPRA Paper 17451, University Library of Munich, Germany.
    7. Stephen Morris & Hyun Song Shin, 2001. "Rethinking Multiple Equilibria in Macroeconomic Modeling," NBER Chapters, in: NBER Macroeconomics Annual 2000, Volume 15, pages 139-182, National Bureau of Economic Research, Inc.
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