Demonstrating the virtues of self-restraint


One of the greatest strengths of the Bank of England's regime since independence has been its narrowness of mission. The Bank is there to deliver price stability over the medium-term, subject to due concern for short-term output volatility and financial instability, full-stop. It no longer is concerned with financial supervision writ broadly, and it is not an ongoing contributor to public debates outside its monetary policy remit.

With focus comes clarity. Both internally and externally, the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.