Maxed out or not maxed out? Interest & Exchange Rate Forecast
That is the question being debated in monetary policy circles. A weak economy and no further loosening by the Bank of England's Monetary Policy Committee in February suggests that they think monetary policy is near the limit of what it can do.
11 February 2013
Mark Carney, BoE governor-elect, seems to think otherwise. So too does the Bank of Japan which has a new inflation target and more aggressive brief. Maxed out or not, with countries seeking to weaken their currencies and trade their way to recovery, foreign exchange markets could be about to get a lot more political.
* Interest-Exchange-Rate-Forecast-Feb-2013.pdf
Download the full forecast (PDF 72KB)
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