Please use symbol entry at top right of page to search

BoE's Pill says central banks best placed to control monetary policy

LONDON (Reuters) - Bank of England Chief Economist Huw Pill said on Wednesday that central banks are able to take tough decisions on monetary policy, in contrast to governments that are driven by short-term political pressures.

"They have relatively short horizons," Pill said of governments in general, during a question-and-answer session with members of the public hosted by the BoE.

"It's this independence from some of that political pressure that allows independent central banks to bring some of the bad news today, to recognise some of the challenges that we face today."

(Reporting by Andy Bruce, Editing by Kylie MacLellan)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

Search News

Filter Results

Publication Date
Topic
Provider
  • All

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.