Former MPC member blasts “unduly powerful” future BoE governor

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Kate Barker, a former external member of the Bank of England's (BoE) Monetary Policy Committee (MPC), has criticised the decision to make the UK's Financial Policy Committee (FPC) independent of government.

The FPC is currently being introduced as the UK's macro-prudential policy-maker, run by the Bank of England. Barker said, however, that the design of the organisation was problematic. "I argue that the institutional arrangements for the FPC are flawed, and retain much of what proved to be a w

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