Politics & Policies

UK Monetary Policy / Is the target unemployment rate a trigger or a threshold ?

U.K. Prime Minister David Cameron defended Mark Carney after the Bank of England governor said that policy makers will review forward guidance next month.

Carney, who said last year that unemployment would need to fall to 7 percent before the BOE would consider raising interest rates, has seen the jobless rate drop faster than forecast. Today, Carney said policy makers will reassess guidance within weeks as he pledged to maintain exceptionally loose policy for some time to help the recovery.

“To be fair to the governor, he always said that this was a threshold, not a trigger,” Cameron said in an interview with Bloomberg Television at the World Economic Forum in Davos, Switzerland. His latest comments are “consistent with that,” Cameron said.

Chosen excerpts by Job Market Monitor. Read the whole story at 

Bloomberg Business Week

via Cameron Defends Carney as BOE Prepares to Review Guidance (2) – Businessweek.

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  1. Pingback: Unemployment in UK / Monetary policy forward guidance overhaul | Job Market Monitor - February 12, 2014

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