Bank of England 2

Philip Booth writes for City AM

Philip Booth, Senior Research Fellow at the Institute of Economic Affairs has written for City AM today on group think at the Bank of England and its failings.

In his article Philip argues that despite the financial crash, the Bank of England seems to have become more self-confident in their forecasts. It is increasingly ditching rules and trying to use its own day-to-day judgments to make trade-offs and micro-manage markets. We have a central bank believing it can find the optimal trade-off between unemployment and inflation. We need somebody at the Bank of England who thinks differently and who will stand up and say so.

Read the full article here.