Forward guidance takes monetary policy even further down the wrong track

There is the very real danger that by committing to low interest rates for even longer than previously thought the MPC is itself dampening the recovery. Forward guidance takes monetary policy even further down the wrong track. It needs to focus on broader indicators, not narrower ones. It needs to be focused on market forecasts, not official statistics. The real problem is the missed opportunity to reform the monetary regime. 

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Source: http://www.iea.org.uk/blog/forward-guidance-takes-monetary-policy-even-further-down-the-wrong-track

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