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Governance Benchmarks 2026 – legal matters

Nearly one-fifth of central banks (18.8%) say the law that governs their duties is “inappropriate in scope or wording”, the Governance Benchmarks 2026 show. Comments from respondents and data on independence in different areas suggests that (lack of) financial independence and the involvement of politicians in central bank affairs is a key driver of divergence between those that are satisfied with their laws and those that are unsatisfied.

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Law impacts independence

The benchmarks data highlights a link between central banks that report issues with the scope or wording of their governing law and their degree of independence. Key issues seem to relate to financial matters, including lending to government and financial resources. The red bars show the difference between those that report issues with the law and those that do not – for those facing issues, independence is lower in every category.

For the full breakdown, use the benchmarking service’s interactive charts to explore the data.

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