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BoE’s Haskel sees tension with government fiscal expansion

BoE’s Haskel sees tension with government fiscal policy By Reuters

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Economy 17 minutes ago (Sep 22, 2022 20:00)

© Reuters. FILE PHOTO: Professor Jonathan Haskel, who has just been appointed to the Monetary Policy Committee of the Bank of England, is seen in this undated portrait released by HM Treasury in London, Britain, May 31, 2018. Jason Alden/UK Treasury/Handout via REUT

LONDON (Reuters) – Bank of England (BoE) policymaker Jonathan Haskel said the central bank was in a difficult position as the government’s expansionary fiscal policy appeared to place it at odds with the BoE’s efforts to cool inflation.

“We are in a difficult, uncomfortable position, frankly, because I don’t like being in a situation where you have one institution – namely the independent central bank – at least being portrayed as set against another institution, the elected government,” he said.

“Having a fiscal expansion in the context of tight supply is, I’m afraid, very difficult,” he added, during a panel discussion hosted by the North Western Reform Synagogue.

BoE’s Haskel sees tension with government fiscal policy

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