Sentance: Up To MPC to Safeguard BoE's Independence (Audio)
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Andrew Sentance, former member of the Bank of England's Monetary Policy Committee, now Senior Adviser to Cambridge Econometrics, says it's up to members of the MPC to safeguard the bank's independence in the face of increased scrutiny by the Treasury. He tells Bloomberg's Stephen Carroll and Dani Burger he sees the Bank of England continuing to hike interest rates, with neutral rates around 4% in the first quarter of 2023. Sentance says the UK has the borrowing capacity to tide the economy over a difficult period, if the spending on energy turns out to be a temporary measure. See omnystudio.com/listener) for privacy information.