Osborne defends new Bank of England remit

Bank of England artwork

The UK's chancellor, George Osborne, today defended his decision to change the Bank of England's (BoE's) remit without a formal review process, and dodged accusations that he was merely passing the buck for economic growth from the government to the central bank.

Appearing before the Treasury Select Committee, Osborne said there had been "a pretty lively debate" over the BoE's monetary policy framework, and stressed that it had been important to be decisive in making the changes.

Mark Carney, in

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