BoE should not merge monetary policy and macro-pru - Broadbent
Merging key committees could undermine accountability, says deputy governor
One of the Bank of England’s deputy governors has argued against the merging of its macro-prudential and monetary policy committees, claiming it could “compromise accountability”.
Speaking today (April 12), Ben Broadbent said there was a risk that “a single committee would pay too much attention to its more verifiable objectives… and too little to financial stability.”
“The policymaking process would be far too complicated to hold any one bit of it to account and the all-powerful policymaker
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