Andrew Bailey acknowledges risk of ‘over-tightening’
Senior economists discuss how to avoid stagflation during a fragile moment for the global economy
Andrew Bailey acknowledged there was a risk that central banks could tighten monetary policy too fast as they walk a “narrow path” towards a “soft landing” for their economies.
The Bank of England governor was speaking alongside other senior economists at the International Monetary Fund Spring Meetings today (April 22). He agreed with economics professor Hélène Rey, who cautioned that while tighter monetary policy is needed, there is now a risk of “over-tightening”.
“We need to be very careful
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