Will BoE independence be reversed?

westernpromise

Theresa May has opined that low interest rates are causing inequality and William Hague riffs on this in today's Labourgraph.

http://www.telegraph.co.uk/news/2016/10/17/central-bankers-have-collectively-lost-the-plot-they-must-raise/

Along with the failures of PFI, tax credits, and the FSA, is this not just the last failed statist Labour wheeze that needs now to be unpicked? Or is it just that the target the BoE is set has been overtaken by events?

spadoosh

BoE should have independence. The wealth of people should not be used for political gain.

However Mark Carney thinks hes a politician, he's not, hes an accountant for someone elses business and would do well to remember that. As an accountant there are things you should do and things you shouldnt. You should be factual and prudent. You shouldnt speculate or comment on the affairs of a business. Any concerns are raised directly with the Managing director (PM) and not with employees and customers.

He should be locked in a cupboard with an abacus instead of taking every opportunity to make headlines.

CLAPTON

spadoosh wrote: »

BoE should have independence. The wealth of people should not be used for political gain.

However Mark Carney thinks hes a politician, he's not, hes an accountant for someone elses business and would do well to remember that. As an accountant there are things you should do and things you shouldnt. You should be factual and prudent. You shouldnt speculate or comment on the affairs of a business. Any concerns are raised directly with the Managing director (PM) and not with employees and customers.

He should be locked in a cupboard with an abacus instead of taking every opportunity to make headlines.

which seems to prove the point that he shouldn't be 'independent'

cells

The starting assumption that the rich are richer and the poor poorer because of low rates is questionable and I dont hold it to be true

IDS piece cries that low rates have blown a property and stock market bubble making the rich rich while low rates on bank accounts has made the poor poor is mostly wrong imo. the FTSE 100 is lower in real terms than a decade ago and so are homes in 70-75% of the country. the poor have never had significant savings in bank accounts to benefit from interest while many middle households have benefited from cheap mortgage finance