Two Current Monetary Policy Issues.
In this speech, Stephen Nickell, member of the Bank's Monetary Policy Committee looks at two issues: first, the impending switch to targeting the HICP inflation rate and, second, the implications of the steady rise in household debt. The key conclusion on the first issue is that a switch to an...
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| Format: | Journal article |
| Language: | English |
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2003
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| _version_ | 1797084703710248960 |
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| author | Nickell, S |
| author_facet | Nickell, S |
| author_sort | Nickell, S |
| collection | OXFORD |
| description | In this speech, Stephen Nickell, member of the Bank's Monetary Policy Committee looks at two issues: first, the impending switch to targeting the HICP inflation rate and, second, the implications of the steady rise in household debt. The key conclusion on the first issue is that a switch to an HICP target of 2% today should have little or no impact on the current stance of monetary policy despite the large gap between RPIX and HICP inflation. On the second issue, he dismisses the arguement that interest rates should be set above the level required to hit the inflation target in order to discourage further household debt accumulation. |
| first_indexed | 2024-03-07T01:58:42Z |
| format | Journal article |
| id | oxford-uuid:9c9eae31-fe12-4a80-8318-e8b615a6e13b |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T01:58:42Z |
| publishDate | 2003 |
| record_format | dspace |
| spelling | oxford-uuid:9c9eae31-fe12-4a80-8318-e8b615a6e13b2022-03-27T00:37:12ZTwo Current Monetary Policy Issues.Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:9c9eae31-fe12-4a80-8318-e8b615a6e13bEnglishDepartment of Economics - ePrints2003Nickell, SIn this speech, Stephen Nickell, member of the Bank's Monetary Policy Committee looks at two issues: first, the impending switch to targeting the HICP inflation rate and, second, the implications of the steady rise in household debt. The key conclusion on the first issue is that a switch to an HICP target of 2% today should have little or no impact on the current stance of monetary policy despite the large gap between RPIX and HICP inflation. On the second issue, he dismisses the arguement that interest rates should be set above the level required to hit the inflation target in order to discourage further household debt accumulation. |
| spellingShingle | Nickell, S Two Current Monetary Policy Issues. |
| title | Two Current Monetary Policy Issues. |
| title_full | Two Current Monetary Policy Issues. |
| title_fullStr | Two Current Monetary Policy Issues. |
| title_full_unstemmed | Two Current Monetary Policy Issues. |
| title_short | Two Current Monetary Policy Issues. |
| title_sort | two current monetary policy issues |
| work_keys_str_mv | AT nickells twocurrentmonetarypolicyissues |