Governor of the Bank of England Andrew Bailey described recent economic history as a “sequence of unprecedented global shocks”.
Bailey was addressing the Reykjavik Economic Conference where he also stated that the world has entered a NaSTY (Not-AS-Tranquil Years) period. He said this time has "created a very challenging environment for monetary policy". However, he praised the Bank of England's efforts during this time and mentioned its programme to deliver an advanced environment for working with data on the cloud, as well as its update to its core structural macro model to better capture energy price shocks. US and UK agree 'breakthrough' trade deal In addition, Bailey spoke about positive signs, such as ...
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