BoE’s mandate may be too broad, warns Mervyn King
Former governor chats with Paul Tucker on independence and central banks’ optimal remit
The Bank of England’s mandate is too broad and is distracting policy-makers from carrying out their core functions, Mervyn King and Paul Tucker told the BoE watchers’ conference on May 12.
King, a former governor of the bank, and Tucker, a former deputy governor, both made the point during a fireside chat at the event in London.
“[The government] slipped into an annual round of writing a remit letter,” King said. “It subtly changes all the various things that the bank was supposed to do. I think
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