Simply how a lot energy do the economists of Threadneedle Avenue actually wield? Because the Financial institution of England grapples with whether or not to maintain rates of interest at an all time excessive, host Sascha O’Sullivan goes on a mission to seek out out.
On this week’s episode, she speaks to those that have been on the very coronary heart of Westminster’s relationship with the Financial institution for the final three many years.
Former Prime Minister Liz Truss tells Sascha precisely why she believes Financial institution of England economists have been making an attempt to tug aside her mini-budget and “take her down.”
Former shadow chancellor and Gordon Brown adviser Ed Balls explains how the Financial institution’s independence happened in 1997, and suggests among the individuals sitting on the Financial Coverage Committee have developed a spot of group suppose of their choice making.
Torsten Bell, chief govt of the Decision Basis and former adviser to Alistair Darling, talks about how the 2008 international monetary disaster modified the powers the Financial institution may deploy in instances of emergency.
And Andy Haldane, the previous chief economist for the Financial institution of England for greater than 30 years, reveals how near a political intervention the then-Governor Mark Carney got here through the Brexit years and the way, after the pandemic, the Financial institution’s economists missed inflation coming down the observe.
