Robustness - speech by Huw Pill

In this speech, Huw sets out how scenario analysis can help develop a more robust approach to monetary policy in an environment of profound uncertainty. A robust monetary policy will deliver inflation close to the 2% target on a lasting basis across a broad and diverse set of possible environments.

Huw stands ready to act against inflationary pressures stemming from developments in the Middle East to deliver price stability over the medium term. Economic uncertainty is always present (perhaps especially so at present), but the task of monetary policy is to provide clarity on pursuit of price stability in an uncertain world.