Carney treads carefully amid potential threats to BoE independence
Governor expresses concern over role of National Audit Office
Elements of the Bank of England's (BoE) independence may be at risk under proposals to grant greater oversight of the institution to the National Audit Office (NAO), governor Mark Carney told the Treasury Committee today (October 20).
Carney was referring to an element of the Bank of England Bill that opens up more of the central bank to the scrutiny of the NAO. While it is supposed to steer clear of policy matters, he noted the office is expected to audit the "indemnified activities" of the BoE
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