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Bank Of England’s Anti-Brexit Bias Threatens Its Credibility

Bank Of England’s Anti-Brexit Bias

Sir Paul Marshall, criticised the Bank of England’s post-Brexit Referendum forecasts in an article in the Financial Times on Jan 17th 2018. He said that the Bank ‘has come to embody anti-Brexit to such a degree that it endangers its credibility as an institution cognitive bias

Sir Paul Marshall,

criticised the Bank of England’s post-Brexit Referendum forecasts in an article in the Financial Times on Jan 17th 2018. He said that the Bank ‘has come to embody anti-Brexit to such a degree that it endangers its credibility as an institution cognitive bias….  The Bank’s forecasts were so far adrift as to be embarrassing’. The BoE forecast exports to fall 0.5% but the latest data, for the 3rd quarter of 2017 shows them up 8.7%. Business investment was forecast to be 2% down in 2017 but ONS figures show it to up by 1.7%. This can be dangerous because ‘poor forecasting can lead to poor policy’.  The article can be seen at

https://www.ft.com/content/2ec41698-f48f-11e7-a4c9-bbdefa4f210b

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