BoE’s independence ‘significantly overstated’ – Sharp
Outgoing FPC member says financial stability independence needs to be protected
The Bank of England does not enjoy as much independence as many think, and yet the independence it does have should be carefully protected, according to Richard Sharp, outgoing member of the financial policy committee.
Sharp made the remarks in a March 19 speech – his last before stepping down. He warned that central bank independence was widely under attack from politicians, and that the BoE’s independence is often “significantly overstated”.
In reality, the BoE has operational independence
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