BoE's Posen: G20 Policymakers Missing The Point On Exit Strategies

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Policymakers from the Group of 20 nations and their market-based critics are missing the point about "exit strategies", Bank of England Monetary Policy Committee member Adam Posen wrote in an article in the Financial Times on Thursday.

"The G20 is right to announce that there will be no premature exits from macroeconomic stimulus and to reassure us that monetary tightening will be technically manageable," Posen wrote.

He noted that there is a pressing need for international co-ordination when exiting policy measures.

"An unruly rush to the exits is no better in a global financial crisis than in a crowded theatre," the policymaker said.

Posen joined the MPC on September 1, replacing Tim Besley.

Policymakers from the Group of 20 nations and their market-based critics are missing the point about "exit strategies", Bank of England Monetary Policy Committee member Adam Posen wrote in an article in the Financial Times on Thursday. (Market News Provided by RTTNews)