Guest Lecture: UK Monetary Policy in an Era of Uncertainty

The inaugural FEI guest lecture welcomed a former Bank of England economist to speak on the challenges facing UK monetary policy in an era defined by supply-side shocks, labour market tightness, and persistent uncertainty about the neutral rate of interest. The lecture drew on the speaker's experience of the Bank's internal deliberations during the 2021–23 inflation surge and offered an insider perspective on the tensions between the MPC's dual mandate and its communications constraints.

The lecture was followed by an extended Q&A in which FEI researchers posed questions about r-star estimation, forward guidance effectiveness, and the interaction between monetary and fiscal policy during periods of fiscal stress. A recording summary was published in the FEI Research Bulletin.