The Bank of England and the Government

Abstract

Abstract This essay is in five parts. The first (and longest) part traces the shifting balance of power between Bank and government from 1815 to 1988; the second considers some of the attitudes, prejudices, and assumptions that helped to shape the relationship; the third attempts to show some of the ways in which the Bank has sought to influence government economic policy; the fourth deals with the Bank in its role as conscious representative of the interests of the City of London as a whole; and the last part touches on the ‘independence’ debate that marked the run-up to the Bank’s tercentenary.

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