Britain's struggle with monetary policy has not just had economic consequences: it is also a key source of the Euroscepticism that has brought us to crisis This month sees the 20th anniversary of the granting by New Labour of independence to the Bankof England. It was not full-scale independence but "operational independence" in monetary policy: that is, the freedom to change interest rates without having to consult the chancellor. The Bank is still the Treasury's agent in other matters, such as...
Britain's struggle with monetary policy has not just had economic consequences: it is also a key source of the Euroscepticism that has brought us to crisis This month sees the 20th anniversary of the granting by New Labour of independence to the Bankof England. It was not full-scale independence but "operational independence" in monetary policy: that is, the freedom to change interest rates without having to consult the chancellor. The Bank is still the Treasury's agent in other matters, such as...
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