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Oral evidence: Bank of England Monetary Policy Reports, HC 143

· Andrew Bailey, Governor of the Bank of England (United Kingdom)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, public finances and debt

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· Andrew Bailey Wiki · Bank of England WikiOral evidence: Bank of England Monetary Policy Reports, HC 143

ContextHearing of the Governor and members of the Monetary Policy Committee before the House of Commons Treasury Committee on the Monetary Policy Report.

Why it mattersBailey explains to MPs how the Bank will reduce its gilt holdings.

Problems raised
  1. Inflation is very high.
  2. Active quantitative tightening could disrupt markets.
  3. Coordination with fiscal plans is questioned.
Solutions proposed
  1. Schedule gilt sales carefully.
  2. Coordinate with the Debt Management Office.
  3. Keep tightening to return inflation to target.
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