Independence should not mean the Bank of England is shielded from government scrutiny and accountability to the public, says Damian Pudner Last week, a striking disclosure by former prime minister Liz Truss reignited the debate on the delicate balance between political authority and the operational independence of central banks – a topic with profound implications []
The review, launched last summer, was led by Ben Bernanke, who chaired the Federal Reserve between 2006 and 2014.
The path for the Bank of England to cut interest rate cuts looks increasingly uncertain, particularly as the US Federal Reserve looks set to wait a while longer before loosening policy.
Andrew Bailey says inflation is in line with BoE forecasts but view of markets is that data will delay interest rate cutsAnalysis: Sunak hopes of pre-election rate cuts frustratedThe governor of the Bank of England, Andrew Bailey, has shrugged off a smaller-than-expected drop in inflation last month, saying he expected a sharp fall towards the government’s 2% target next month.Speaking in Washington after news that the government’s preferred measure of the cost of living had eased to 3.2% in...
Under-investment had led to a "complicated and unwieldy system" being used,
Dave Ramsden, one of the nine Monetary Policy Committee (MPC) members, told an audience in Washington that he was now "more confident" that inflationary pressures were receding.
Most of this week has been dominated by discussions about when the Bank of England will start cutting interest rates.
Huw Pill warns inflation could rebound as UK business survey signals economy strengthened over last monthThe prospects of a summer cut in UK interest rates have receded after the Bank of England’s chief economist said inflation must be squeezed out of the economy and cautioned against cutting too soon.After a key survey signalled strong sales across the private sector over the past month and the London stock market rose to a record high, Huw Pill said concerns remained that inflation, which is...
Morgan Stanley says that the Bank of England will cut interest rates as soon as May, in a notable sign of optimism amid waning market sentiment.
Consumers face the prospect of permanently higher interest rates amid geopolitical tensions and “slower globalisation”, a Bank of England official has warned.]]>
The Bank of England announced an overhaul of its inflation forecasting models after a long-awaited review by former Fed Chair Ben Bernanke.
The Bank of England 's governor last night forecast another big drop in inflation after it fell to the lowest level since September 2021.