BoE's guidance often interpreted too much as a promise: Broadbent

Bank of England Deputy Governor Ben Broadbent said on Wednesday that some media and analyst coverage of the bank's latest quarterly economic outlook was misplaced due to excessive focus on a particular lift-off dates for interest rates. 

PHOTO: REUTERS

NOV 18, 20156:06 PM

[LONDON] Bank of England Deputy Governor Ben Broadbent said on Wednesday that some media and analyst coverage of the bank's latest quarterly economic outlook was misplaced due to excessive focus on a particular lift-off dates for interest rates.

"I have long felt that coverage, not just of the last inflation report but of lots of things we communicate, can tend to slip sometimes into interpreting what we say as unconditional promises," Mr Broadbent said, answering questions from the audience at a Reuters newsmaker event.

Earlier, Mr Broadbent said in a speech that pricing in financial markets for when Britain's record-low interest rates were likely to rise could be misleading and risked changing quickly.

REUTERS