Monetary policy can be effective – BoE’s K.Forbes

At her speech at the National Bank of Poland 6^th Annual Conference in Warsaw, MPC Kristin Forbes defended the recent looser monetary policy conditions implemented by the UK following the ‘Brexit’ vote.

Forbes regarded as critical the issue of how the weaker GBP will feed into CPI, noting that the CPI could overshoot the target in a couple of years.

She emphasized that UK’s momentum was better than expected before the ‘Brexit’ vote, while she added that the central bank remains ready to act in case data deteriorate.