An intervention by politicians into the independence of central banks would "ring alarm bells", according to investment managers, after the institutions have been forced to fend off criticism from UK Prime Minister Theresa May and US President-Elect Donald Trump.
In November, Bank of England governor Mark Carney (pictured) spoke out after criticism from May there would be "bad side effects" from Bank of England policies such as quantitative easing, in particular the negative impact on savers. Speaking at a Treasury Select Committee meeting, Carney said politicians were involved in a "massive blame deflection game" by criticising monetary policy. Meanwhile, former Monetary Policy Committee member Martin Weale gave his support to economic forecasting after MP Michael Gove declared it a "profession in crisis". "Forecasting is uncertain, th...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
