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Bank of England Recent Policy Comments and Decisions

Jan. 31 (Bloomberg) -- The following is a compilation of policy statements and decisions from the Bank of England’s Monetary Policy Committee and Deputy Governors.

Jan. 29 -- Mark Carney. Governor VENUE: Speech in Edinburgh

“Even though employment is growing and unemployment has fallen” the recovery “has some way to run before it would be appropriate to consider moving away from the emergency setting of monetary policy.” Bloomberg story: {NXTW NSN N05Z9U6VDKI4 <GO>} Bloomberg bio page: {BBDP 5647315 <GO>} -------------------------------------------------------------------------------- Jan. 24 -- Mark Carney. Governor VENUE: Speech in Davos, Switzerland

“It now seems likely that the rate of unemployment consistent with stable inflation in the medium term is somewhat lower than the MPC assessed back in August,” when guidance was introduced, Carney said. “The MPC will consider a range of options to update our guidance, recognizing both what we have learned about the behavior of aggregate supply in the economy as well as the more benign inflation outlook.” Bloomberg story: {NXTW NSN MZWU926KLVRH <GO>} Bloomberg bio page: {BBDP 5647315 <GO>} -------------------------------------------------------------------------------- Jan. 23 -- Mark Carney. Governor VENUE: Interview with BBC

“There are a broad range of things we could do, I wouldn’t jump to that conclusion,” Carney said in response to a question about lowering the 7 percent jobless threshold that’s linked to policy. Bloomberg story: {NXTW NSN MZWFEE6KLVRD <GO>} Bloomberg bio page: {BBDP 5647315 <GO>} -------------------------------------------------------------------------------- Jan. 23 -- Paul Fisher. Bank of England Markets Director VENUE: Speech in London

“We are still some way off the point where it is appropriate to start raising bank rate,” Fisher said. “When it is time, it would be appropriate to do so only gradually.” Bloomberg story: {NXTW NSN MZUJHN6S9728 <GO>} Bloomberg bio page: {BBDP 4737759 <GO>} -------------------------------------------------------------------------------- Jan. 22 -- Ian McCafferty. Member Monetary Policy Committee VENUE: Event at Nottingham Business School

“The equilibrium neutral rate of unemployment may be coming down as we speak,” he said. “So even if unemployment is coming down rapidly, it may not be closing the gap between where we are now and the neutral rate of unemployment quite as rapidly as you might fear.” Bloomberg story: {NXTW NSN MZTKD96JTSFE <GO>} Bloomberg bio page: {BBDP 4216007 <GO>} -------------------------------------------------------------------------------- Jan. 22 -- BOE Minutes Individual MPC voting history. Bloomberg story: {NXTW NSN MZT2AW6S972R <GO>} Bloomberg table: {NXTW NSN MZSQIR1A1I4H <GO>} -------------------------------------------------------------------------------- Jan. 20 -- David Miles. Member Monetary Policy Committee VENUE: BoE Discussion Paper co-written with Jochen Schanz

“The unwinding of such asset purchases is likely to occur when financial markets are operating more normally,” Miles and Jochen Schanz wrote. If it happens “when market conditions are more normal they may have relatively little impact on asset prices and the real economy.” Bloomberg story: {NXTW NSN MZP38Q6JTSGC <GO>} Bloomberg bio page: {BBDP 3671737 <GO>} -------------------------------------------------------------------------------- Jan. 17 -- Ben Broadbent. Member Monetary Policy Committee VENUE: Speech at the London School of Economics

“Near-term indicators of business investment are significantly more positive than the latest official data, which are subject to revision.” Bloomberg story: {NXTW NSN MZJQBS6JIJUS <GO>} Bloomberg bio page: {BBDP 3776185 <GO>} -------------------------------------------------------------------------------- Jan. 15 -- Mark Carney. Governor VENUE: Testimony to the Treasury Committee in London

“We’re not anticipating some dramatic adjustment to levels of rates,” he said. “It’s a very fundamental point, which is that any decision to change monetary policy has to take into account the impact on growth. If it is a self-defeating change, then it is miscalibrated.” Bloomberg story: {NXTW NSN MZG8TR6VDKI6 <GO>} Bloomberg bio page: {BBDP 5647315 <GO>} -------------------------------------------------------------------------------- Jan. 9 -- Bank of England maintains bank rate at 0.50% Bloomberg story: {NXTW NSN MZ507I6S972B <GO>} Bloomberg table: {NXTW NSN MZ4UOB6SETE0 <GO>} --------------------------------------------------------------------------------

To contact the reporter on this story: Mark Evans in London at +44-20-7330-7585 or mevans8@bloomberg.net

To contact the editor responsible for this story: Marco Babic at +41-44-224-4112 or mbabic@bloomberg.net

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