Central bank remits have little impact on policy


The Federal Reserve and Bank of England have followed similar approaches to monetary policy, despite operating with "rather different aims", according to David Miles, a member of the Bank of England's Monetary Policy Committee.

Miles, speaking in Boston on April 13, said the different weights central banks give to output and employment can "today give rise to rather similar monetary policies". In this "exceptional" current environment, Miles said, the "differences in the scale of the optimal

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