And the single supervisory mechanism – just a few months ago considered as out of reach in the foreseeable future – is now under construction. 6  BIS central bankers’ speeches  Still, it is of the utmost importance that national governments and European policy makers undertake all needed structural measures to address the fundamental sources of the current crisis. BIS central bankers’ speeches  7
Reliable partners – speech by Ben Broadbent Given at Gresham College, London  Published on 30 March 2022  The Bank of England’s Monetary Policy Committee (MPC) was set up 25 years ago to use monetary policy to keep the rate of inflation in the UK low and stable. Ben Broadbent talks about its work. Ben focuses on some of the theory, the practice and the pitfalls of communication about the course of monetary policy over the future (sometimes called “forward guidance”). He stresses the importance of understanding that the path of policy will depend on how the outlook for the economy evolves. Speech Good morning. It’s a pleasure to be here at Gresham College, a place that has held public lectures on important societal questions for over four hundred years. That makes it one of the few City institutions that’s been around longer than the Bank of England. I would also like to thank both NIESR and the Money, Macro and Finance Society (MMF) for organising the event. Over the years the work of both institutions has been invaluable to the UK policy community. We are living through the most extraordinary – and in many ways an extraordinarily unwelcome – time. Russia’s unprovoked attack on Ukraine has brought war to Europe for the first time in decades, with all its terrible humanitarian consequences.