The Bank of England: Hands off

Posted: October 28, 2016 in economy
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Politicians who casually attack the central bank’s integrity are playing with fire

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Hands off

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The Bank of England

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Liberty moves north

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The Bank of England

FOR nearly two decades Britain’s monetary policy has been independently set by the Bank of England, according to targets defined by the government. Removing direct control of interest rates from politicians, who were inclined to fiddle with them for electoral gain, has made for a better-run, more stable economy in Britain, as it has in many other countries.

Yet one of the aftershocks of the Brexit earthquake in June is that the Bank of England’s independence has been called into question. There has been a growing chorus of criticism of the central bank, with increasingly senior pro-Brexit politicians calling for the government to boot out its governor and take …

via Economic Crisis


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