Out-going BOE MPC member and Dep Gov Minouche Shafik having a Twitter Q&A 22 Feb
The headline reply was in answer to : "Given the negative impact of inflation on household income, how do you respond to recent calls for bringing forward a rate hike?"
Live at the BOE twitter account here
#AskMinouche
- Demand for reserves is likely to be higher than in the past so the balance sheet won't shrink to pre-crisis levels
- low interest rates could contribute to low productivity but it's not the whole story
- We are looking at new ways of communicating - watch this space!
Shafik concludes by saying:
"This was my first time on Twitter & I've really enjoyed it.These are my last days at the Bank - catch up with you in my new incarnation as Director of @LSEnews"
GBP continues its slide at 1.2427, 0.8448 and 140.58
