BoE deputy gov Broadbent says critics of the Bank’s inflation record are talking rubbish

Bank of England deputy governor Ben Broadbent speaking in an interview with UK media, The Times.

  • said claims that its rate setting monetary policy committee had failed
    to foresee surging inflation over the past three years because its
    members shared similar backgrounds were “absolute tripe”

(For those unfamiliar with UK English idoims, ‘absolute tripe’ means the person making the accusations is incorrect, talking rubbish).

His comments are seemingly in response to criticism of the Monetary Policy Committee from a former governor, Merv King, who said

  • the rate setters had prioritised gender and ethnic diversity over
    “diversity of thinking” and were guilty of “groupthink”

The Times is gated.

Broadbent is finishing up his term at the Bank in June. He was with the Bank for 13 years.

This article was written by Eamonn Sheridan at Source