BOE to Start Publishing Survey of Market Intelligence
BOE to Start Publishing Survey of Market Intelligence
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The Bank of England will start publishing the results of its surveys of market participants for the first time from next month, giving insight into the intelligence that helps inform decision making.
“The survey will collect information on market participants’ expectations about monetary policy and financial markets,” the BOE said in a statement on Friday.
The aggregate results of the survey will be published eight times a year, following the central bank’s decisions.
The step will add more transparency to the BOE interactions with investors. It follows a move by the central bank last year to halt off-the-record briefings between members of its rate-setting committee and individual private financial institutions.
The announcement also comes at a time when the relationship between the central bank and investors is particularly strained. The BOE surprised markets at its previous two meetings, holding rates in November when a hike was almost fully priced in and increasing them last month when most expected no change. A rate hike in February is currently close to 90% priced in.
Addressing the controversy in November, Governor Andrew Bailey said it wasn’t his job to guide financial markets on interest rates.
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