Senior politicians launch attack on Bank of England - reports

Questioned independence

Elliot Gulliver-Needham
clock • 1 min read

Cabinet ministers have attacked the Bank of England over rising inflation, with some making the unprecedented move of questioning the central bank’s independence.

As the government has continued to come under fire for failing to tackle the cost of living crisis, Conservative politicians have begun to set the central bank in their sights. A senior minister told The Telegraph over the weekend: "It has one job to do - to keep inflation at around two per cent - and it is hard to remember the last time it achieved its target." Other ministers warned that the bank had been failing to "get things right" and that it had failed a "big test". 'Things are only going to get worse' as UK economy contracts in March Last week, former international trade...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot