Merryn Somerset-Webb

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103 appearances 2 recordings 1 series first heard Dec 2013 last heard Jan 2014

Merryn Somerset-Webb’s voice in public audio — every appearance, attributed to the second.

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More or Less · Numbers of the year · 27 Dec 2013 podcast

And you have to be ready for that.

It's a really tough thing for a central banker to do.

I mean, of course, it will happen one day.

But I think the tightening of monetary policy will probably take quite a lot longer than any of us expect.

When it comes, it'll come fast.

But I think it'll be a way off.

You've got to be a very, very brave central banker to be the one who stands up and says, I don't care if the stock market crashes.

He may be.

I mean, you know, impossible to tell.

This is a matter of moral character, I think, in many ways.

And he's given us incredibly fuzzy guidance about when he might or might not raise interest rates.

And of course, we're taking a break from QE, but we still have these super, super low interest rates at 300-year lows.

When does that change?

We know when it does change, it brings pain for the people who are living on very, very low interest rates.

And he tells us that he will start thinking about it when unemployment hits around 7%.

But he's not telling us that he will do anything at 7%.

He'll start thinking about it.

Now, I'm thinking about an awful lot of things that I might do at some point in the future.

And we all know that most of them I'm never going to do.

Well, obviously, they're very different, QE and raising interest rates.

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