BoE’s Taylor says external members are now better prepared
External members are better briefed by BoE staff, but still avoid “group think”
The Bank of England now briefs its external committee members in greater depth, allowing for more nuanced policy discussions, Martin Taylor said in a speech on February 7.
These discussions help the central bank to navigate troubled times, Taylor said during remarks at Queen’s University Belfast. The outgoing member of the financial policy committee (FPC) noted private sector board members had to strike a difficult balance between challenging executives and backing them up. Many got this wrong
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