The battle of three centuries: The history of central banks

Posted: April 28, 2017 in economy
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Today’s criticisms of central banks echo debates from times past

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Battle of three centuries

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The history of central banks

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The battle of three centuries

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TWENTY years ago next month, the British government gave the Bank of England the freedom to set interest rates. That decision was part of a trend that made central bankers the most powerful financial actors on the planet, not only setting rates but also buying trillions of dollars’ worth of assets, targeting exchange rates and managing the economic cycle.
Although central banks have great independence now, the tide could turn again. Central bankers across the world have been criticised for overstepping their brief, having opined about …

via Economic Crisis


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