Bank of England to set out forward guidance method

The Bank of England is expected to set out a new “forward guidance” scheme in its quarterly inflation report.

The BBC reports the Chancellor had requested the measures of the Bank. They mean interest rates are maintained at a certain level until economic indicators are improved.

It is a scheme designed for boosting confidence and is used by several other central banks.

Newly installed Governor, Mark Carney, has previously used the methods while heading up his native central bank in Canada during 2009.

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