BoE’s Pill says government must ‘respect’ independence
Government and central bank have clashed over causes of UK’s gilt market turmoil
The Bank of England’s Huw Pill has warned the government to respect the independence of the central bank and other economic institutions, as bond market volatility continued.
The BoE chief economist said the Conservative government’s fiscal plans – announced in a controversial ‘mini-budget’ on September 23 – had shifted the UK’s macroeconomic outlook. The government’s cap on energy bills means gas price rises now pose less of a short-term threat to household budgets and headline inflation, Pill
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Operating framework
Average inflation targeting raised post-Covid prices in US – study
Dallas Fed research argues Fait framework contributed to surging prices
Kganyago continues push to lower Sarb inflation target
Economists back South Africa’s central bank governor, but finance minister remains sceptical
Australia moves forward with ‘ample reserves’ framework
RBA raises price of short-term repo and encourages lenders to recycle liquidity in private markets
PBoC tweaks lending facility as framework reform continues
Chinese central bank phases out MLF’s role in monetary policy by allowing dynamic pricing
ECB tells lenders to regularly tap central bank liquidity
Banks should include refinancing operations in day-to-day liquidity management, say Buch and Schnabel
Forward guidance ‘partly to blame’ for inflation – panel
ECB should do more scenario planning, revise collateral rules and incorporate Taylor principles
ECB framework needs ‘few tweaks’ – panellists
Digital euro is “even more important” in the wake of Trump CBDC ban, says BdF governor
Bank of Canada cuts rates by 25 basis points
Monetary policy “cannot offset the impacts of a trade war”, says central bank