Some Reflections on the Mpc

6 Pages Posted: 30 Jul 2005

See all articles by Sushil Wadhwani

Sushil Wadhwani

Bank of England - Monetary Policy Committee


In this speech, Sushil B Wadhwani notes that it is encouraging that inflation expectations have fallen under the new monetary framework. However, because of the recent tendency to undershoot the target, he argues that it is important to keep the forecasting process under review. He presents evidence suggesting that, on average, the Bank of England's interest rate decisions have surprised the markets more than the decisions of other central banks, though, more recently, the gap has narrowed.

Suggested Citation

Wadhwani, Sushil, Some Reflections on the Mpc. Bank of England Quarterly Bulletin, Autumn 2001. Available at SSRN:

Sushil Wadhwani (Contact Author)

Bank of England - Monetary Policy Committee ( email )

Threadneedle Street
London EC2R 8AH
United Kingdom
+44 20 7601 3235 (Phone)

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