WHY AM I HERE?

This week's CentralBankNet Special looks at the differing ways in which central banks define their purposes. One doesn't think of central bankers as being preoccupied with existential questions. But some are. Under Mervyn King's stewardship, for instance, the Bank of England has recently had a bout of introspection. As a result, its raison d'etre has been subtly redefined.

In the annual report for 2003 the Bank had set itself three objectives (or one three-fold aim): 1/Maintaining the integrity

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