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Avoiding the iceberg

The Bank of England's new early warning system

By Jay Elwes  

...

This morning, Britain’s economy-watchers trained their attention on Mark Carney, the new Governor of the Bank of England, who stepped out onto the British monetary stage to deliver his opening number. Or should that be numbers.

His intention is to give what is now termed “forward guidance” on the Bank’s economic plans, so that businesses—and perhaps politicians also—can plan for the future, knowing that the bank is not going to spring an unpleasant surprise by suddenly adjusting interest rates.…

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