Bailey defends BoE’s independence

andrew-bailey

The governor of the Bank of England has vehemently denied that actions taken during the pandemic threaten the institution’s independence.

During remarks on February 5, Andrew Bailey said he was aware of claims the BoE had “flouted rules” during the pandemic through the purchase of government debt and lowering the cost of government borrowing.

“I am glad that central bank independence is being vigilantly scrutinised,” he said. “But I’m sorry to have to be blunt, I’m afraid these arguments are

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