FACTBOX-Bank of England policymakers' recent comments

Fri Jan 2, 2009 2:16pm GMT
 
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LONDON (Reuters) - Following are key extracts from recent comments by Bank of England Monetary Policy Committee members.

CHARLES BEAN, FINANCIAL TIMES, DEC 18

"The Bank rate is still at 2 percent, so we still have some margin to go yet, but of course we may find ourselves getting them all the way to near zero."

"It's a moot question whether you actually want to go all the way to zero, or stop at a small positive number; it really depends on how the money markets operate."

"And the problem with going to zero is that effectively you don't leave the banks very much incentive to manage their own liquidity."

DAVID BLANCHFLOWER, ROYAL ECONOMIC SOCIETY NEWSLETTER, DEC 17

"In circumstances when there is a danger of deflation and policy interest rates are approaching the zero bound, it is appropriate to consider the use of alternative policy measures, including quantitative easing."

"I expect unemployment to continue to rise through 2009 and into 2010, probably to over three million."

"Where is the light at the end of the tunnel? I cant' see any."  Continued...

 
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