Bank of England drafts first 'Dear Gordon' note

This recent article from Bloomberg presents a fictional letter to UK chancellor Gordon Brown written by Mervyn King in the future explaining why the Bank of England exceeded its inflation target by more than 1 percent.

"Frankly, it's your own fault," the letter tactfully suggests the Bank of England governor may say.

"If you'd let ME pick all of the economists for the Monetary Policy Committee, the external members wouldn't have been able to gang up on us in 2005 and get their way with that

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