John Redwood on the BoE
Slightly strange article in the Telegraph from John Redwood, in which he appears to confuse independence and power. It is perfectly possible to be more independent but less powerful. The foreign exchange reserves have been the Treasury's for years, so he's confused on that issue. If we were to join the euro they would have to be given to the Bank of England, which I can't say I think is a wholly good idea. On the creation of the FSA, clearly there are benefits and costs, but unless Redwood is proposing giving the Bank entire responsibility over financial regulation, there's always going to be some tension.Labels: John Redwood
posted by Matthew @ 5/11/2007 11:43:00 AM
Comments: 1
