Maintaining economic calm not possible, says MPC member

clock

The UK economy is perpetually subjected to shocks and pressures, rendering hopes of maintaining financial stability indefinitely "over-optimistic", Monetary Policy Committee (MPC) member Paul Fisher said last night.

Fisher, speaking at the University of Warwick, said the responsibilities of the incoming Financial Policy Committee (FPC) - detecting and reducing threats to the financial system - were a "tough ask". He warned stakeholders against harbouring unrealistic expectations about what it can achieve. "The UK economy is constantly subject to shocks and varying pressures, many of them from abroad, which cause fluctuations in economic activitym," he said. "The job of policymakers is to recognise and assess such developments, and subsequently take actions to mitigate their impact. "Once ac...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Five years on from Covid: What's next for markets?

Five years on from Covid: What's next for markets?

It is now five years since the start of the UK’s Covid lockdown. Since then, we have seen considerable market and geopolitical-related change. Here, William Marshall looks back over the past five years and also explores what we might expect from markets...

William Marshall
clock 06 May 2025 • 4 min read
Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read