Stability and Statistics

7 Pages Posted: 7 Apr 2005

See all articles by Rachel Lomax

Rachel Lomax

Bank of England - Monetary Policy Committee

Abstract

In this speech, Rachel Lomax, Deputy Governor responsible for monetary policy, notes that the past decade has been a time of unparalleled macroeconomic stability. This has helped to give policy makers a high degree of credibility which itself reduces the risks posed by sharp shocks to activity or inflation. But good monetary policy decisions depend on good information. Much of the MPC's energy is devoted to ensuring that its judgements are firmly grounded in reality. Bank staff work very closely with ONS to interpret and improve the national statistics. As well as monitoring a very wide range of different indicators, and paying close attention to data quality, the MPC talks to business people through the Bank's network of Agents and members' own regional visits.

Suggested Citation

Lomax, Rachel, Stability and Statistics. Bank of England Quarterly Bulletin, Winter 2004, Available at SSRN: https://ssrn.com/abstract=699243

Rachel Lomax (Contact Author)

Bank of England - Monetary Policy Committee ( email )

Threadneedle Street
London EC2R 8AH
United Kingdom