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- Title
Reflections on my first four votes on the MPC.
- Abstract
In this speech, Professor David Blanchflower, member of the Monetary Policy Committee (MPC), sets out his reasons for voting against the August 2006 rise in interest rates. He explains that in his opinion the data available at the time of the decision were not indicative of a reduction in spare capacity in the economy, in contrast to the opinions of some of the other members of the MPC. He also sets out his belief that the risk to near-term spending growth from a weakening labour market outweighed the chance of greater spending growth stemming from too loose a policy stance.
- Subjects
INTEREST rates; ECONOMICS; MONETARY policy; ECONOMIC policy; BLANCHFLOWER, David
- Publication
Bank of England Quarterly Bulletin, 2006, Vol 46, Issue 4, p456
- ISSN
0005-5166
- Publication type
Speech