Andrew G Haldane: How monetary policy affects your GDP

Text of the Finch Lecture by Mr Andrew G Haldane, Executive Director and Chief Economist of the Bank of England, at the University of Melbourne, Melbourne, 10 April 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

The views expressed here are not necessarily those of the Bank of England or the Monetary Policy Committee. I would like to thank Phil Bunn, Shiv Chowla, Fergus Cumming, Alice Pugh and Chris Yeates for their help in preparing the text. I would like to thank James Benford, Tom Belsham, Ben Broadbent, David Halpern, Michael Hallsworth, Clare Macallan and Michael Saunders for their comments.

I am honoured to be here at the University of Melbourne to deliver this year's Finch Lecture.

Colin David Finch built his brilliant academic and professional career on nurturing international co-operation on economic and financial matters: in his studies here at the University of Melbourne and at the London School of Economics; in his long and distinguished time at the International Monetary Fund; and, in later life, at the Institute for International Economics in Washington DC.