Monetary Policy: Prices versus Quantities
NIESR are delighted to welcome Ben Broadbent, the Deputy Governor of the Bank of England, to deliver his talk in which he will discuss the relationship between money and economic activity. Ben will explore an age old question in economics: whether the stance and effect of monetary policy can be thought of in terms of interest rates or whether it would be better to concentrate on money quantities. Ben will use this framework to examine recent developments, including the relationship between QE and the current high rate of inflation, and how the MPC takes account of “QT” (i.e. asset sales) in its economic forecasts.