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Bank Of England Will Change Guidance But Forecasters Stumped On How: Poll

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February 10, 2014 AT 11:22 AM
The Bank of England has forecasters in suspense about how it will restore its "forward guidance" policy, according to a Reuters poll ahead of an expected revamp of the central bank's monetary policy centerpiece this week. A plunge in Britain's unemployment rate has forced the BoE to work on a revised plan. The poll showed little common ground among economists on its most likely approach. BoE Governor Mark Carney has conceded the BoE was wrong with its forecasts on unemployment and said it would begin the process of "evolving" its guidance in February to make sure Britain's recovery is given help to become more sustainable.