Confronting the limits of monetary policy

“It’s not clear to me that households are sitting on a massive wodge of cash,” Paul Dales, chief UK economist at Capital Economics, a research outfit, said. Response rates to a questionnaire called...

“The shift in the types of mortgages means monetary policy definitely takes longer to work its way into households’ payments,” says Paul Dales, chief UK economist at Capital Economics.

Paul Dales, an economist at Capital Economics, said that, based on the latest data, the government would have to raise £28bn in the Budget, mostly through taxes.