UK opposition calls for new central bank powers

Giving central banks the power to vary the capital banks hold over the economic cycle could help prevent asset price collapses, argued George Osborne, the Conservative shadow chancellor.

Speaking to an audience at Harvard Business School, Osborne said that although the current policy framework in the UK successfully tackled inflation this had meant the "disregard for the current account, asset prices, the rate of growth of credit or household balance sheets."

The new economic challenge of our t

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