Apolitical? A defence of the Bank of England

Reap what you sow: A defence of the Bank of England by Jamie Sanders In recent months the Bank of England has become somewhat of a political punching bag. Our PM, in the midst of post-referendum bewilderment, emphasized the distributional woes fuelled through unconventional monetary policy. The newly inaugurated leader of the Labour party, Jeremy Corbyn, proposed his notion for “People’s Quantitative Easing” in a subversive retaliation to recent loose monetary policy. Most recently the Bank has come under fire from prominent Brexit campaigners regarding the Bank’s “project fear” predictions – which are yet to materialise.