BOE chief economist Andy Haldane with scheduled speech 10 April
- with few exceptions, the impact of looser monetary policy on different cohorts of society has been positive and significant in income and wealth terms.
Speech in Melbourne entitled "How monetary policy affects your GDP" in which he discusses the impact that monetary policy since the financial crisis has had on the income, wealth and well-being of different sets of households.
No reference to current mon pol leanings but we may get a few at the Q&A . GBPUSD 1.4172 near session/recent highs as EURGBP gives up on 0.8700. Next offers between 1.4180-00 and bids 0.8680-85
Haldane concludes:
The channels through which monetary policy has affected people's lives are often neither easy to observe nor well-understood, giving rise to a large perception gap on the part of the public about the true impact of monetary policy on them. This is not a failing on the part of the public. Nor is it a failing in the effectiveness of policy. Rather it reflects the difficulty of capturing the often subtle ways in which monetary policy affects people, in a way that is clear and relevant to them.
Full speech here (all 29 pages of it)
BOE's Haldane - Mon pol loosening has made signifcant impact
