During an opposition day debate on mortgage costs, Richard asked the Shadow Chief Secretary to the Treasury what the Labour Party's view on forecasting by the Bank for England is.
The full question can be watched at https://youtu.be/cLUvLzwTABk
After his question, Richard Fuller MP said:
I have been somewhat critical of the Bank of England's performance over the past year or so, specifically over the scale and duration of quantatative easing and their relative lack of pace on interest rates compareed to others, most notably in the US.
I highlighted that the Bank of England has had some criticism over the accuracy of its forecasting which may have hampered the ability of outside investers to predict the level of interest rates here compared with other countries. I asked Labour's Shadow Minister whether the Labour Party had a view on the accuracy of forecasting from the Bank of England.
