Bank of England Policy: Similar Journey, Different Destination
On the heels of the Fed's November meeting (and rate hike), the Bank of England delivered its own 75 bps increase the next day and messaged that investors’ expectations had gone too far.
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Katharine Neiss, PhD, is a Principal and Chief European Economist for PGIM Fixed Income, based in London. Ms. Neiss covers the macro-economic outlook in the UK and euro area, including Bank of England and ECB policy. Prior to joining the Firm in 2020, Ms. Neiss was Head of the International Surveillance Division at the Bank of England, responsible for briefing policymakers on the global macro-economic and financial stability outlook. Previous roles at the Bank of England include Head of the Policy, Strategy and Implementation Division, covering regulation of major UK banks, and senior manager roles in the Structural Economic Analysis Divisions, covering the UK economy. Ms. Neiss has published several articles in peer reviewed academic journals on topics ranging from real interest rates as a monetary policy tool and the impact of the global financial crisis on supply. She received a BA Honours in Economics from Queen’s University and received a Masters and PhD in Economics from the University of British Columbia.
All information as of September 30, 2022. For purposes of the biographies, the “Firm” is defined as Prudential Financial, Inc. ("PFI"). All PGIM and Prudential named entities are subsidiaries or affiliates of PFI. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.