BoE's Barker on monetary policy in the UK

In a speech on 'Monetary policy in the UK - The framework and current issues' given on 21 March, Kate Barker of the Bank of England said the operational independence of the Bank is crucial, but the need to command wide spread public support for central bank independence underpinned the decision to retain political control over the target itself.

"Having a symmetric point inflation target means that there is now little room for uncertainty about what the MPC is seeking to achieve."

Key criticisms

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