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Importing Disinflation

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Macroeconomic Policy after the Crash

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Abstract

When the Bank set sail on its forward guidance adventure in summer 2013 it might reasonably have expected that by the time the unemployment rate had reached 5½ % the Committee would have begun raising interest rates. However, any plans for lift-off were derailed by a marked deterioration in the inflation outlook during the two years that followed. Oil prices and the currency did what a major financial crisis could not: tip the UK economy into deflation.

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Authors and Affiliations

  1. BNP Paribas Investment Partners, Dartford, UK

    Richard Barwell

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Barwell, R. (2016). Importing Disinflation. In: Macroeconomic Policy after the Crash . Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-51592-6_7

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  • DOI: https://doi.org/10.1057/978-1-137-51592-6_7

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