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  • Dr Gerard Lyons

Quoted in a Daily Telegraph column on Friday about the Bank of England

Here is the opening paragraph of the article and then my quotes, with the rest of the article available to read here....


https://www.telegraph.co.uk/business/2021/11/04/bank-england-holds-interest-rates/


Andrew Bailey insists he is not an ‘unreliable boyfriend’ after Bank holds interest rates


Andrew Bailey has insisted he is not an “unreliable boyfriend” in the face of a City backlash after the Bank of England wrongfooted financial markets by leaving interest rates unchanged.

The Governor defended a 7-2 vote by the Bank's Monetary Policy Committee to keep rates at an all-time low of 0.1pc, after weeks in which market expectations of a rise were stoked by comments and speeches from policymakers.


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City criticises Bank's rhetoric


Netwealth chief economist Gerard Lyons, Boris Johnson’s former economic adviser, said the Bank’s decision reflected “appalling signalling by the Governor”.


He said: “His comments and, by not correcting how the market or the media interpreted them, led to hawkish expectations ahead of this meeting that were not merited by the recent data.


“In terms of how it signals, and interacts with the market, the Bank can no longer be considered a major central bank.”


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