State of Play. 30 November 2023
Financial accountability
The Bank of England has come in for much criticism in recent times from a wide range of different groups, from small investors to politicians. Having been late to identify a return of much higher inflation and its policymakers’ admitting flaws in their own forecasting tools, last week a Lord’s committee claimed the bank had not been held accountable for their role in maintaining a stable financial environment. Is this feedback fair and how should we define the role of a central bank? How did they become such an important cog in our financial world?
Simon Durling, Santander Asset Management UK’s senior investment specialist shares his thoughts in this week’s State of Play.