Your Facebook posts could change monetary policy. The Bank of England watches them for a timely read on the economy.

Your Facebook posts could change monetary policy. The Bank of England watches them for a timely read on the economy.

What you search for on Google and post on Facebook could soon influence what happens to interest rates.

The Bank of England has set up a special taskforce to monitor the internet and social networks for early signs of Britain’s economic ups and downs.

For instance, analysis of the frequency of internet job searches, or of prices online, can give one an insight into the prospects for unemployment and inflation.

http://news.sky.com/story/1397985/bank-of-england-to-monitor-social-networks

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