Is the Bank of England losing its way?

The myth of the Bank’s infallibility was exposed by the financial crisis – booming asset prices and excessively strong credit growth are its legacyThe golden age for central banks is over. That much was plain from the two-day shindig held by the Bank of England to mark the 20th anniversary of its being granted independence by Gordon Brown within days of Labour coming to power in May 1997. Continue reading...