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May you leave us alone? Mark Carney says Bank of England won't be instructed by politicians

William Turvill
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Bank of England Inflation Report Press Conference
Carney: "The objectives are what are set by the politicians, the policies are done by technocrats" (Source: Getty)

Mark Carney has said the Bank of England will not be told what to do by politicians.

Speaking shortly after Prime Minister Theresa May questioned the impact of quantitative easing policies, the Bank’s governor said on Friday that his job is sometimes made more difficult by comments from the political world.

Read more: Theresa May criticises Bank of England for making people poorer

“We are not going to take instruction on our policies from the political side,” he said at a public meeting in Birmingham.

Reuters also quoted him saying: “Politicians have done a very good job of setting up the system… Where it can be difficult sometimes is if there are political comments on our policies as opposed to political comments on our objectives.

"The objectives are what are set by the politicians, the policies are done by technocrats.”

Read more: Bank of England warns: EU cannot replace the City

Carney attracted criticism from certain politicians supporting Brexit during the lead-up to the EU referendum.

Shortly after the EU vote, Nigel Farage questioned whether Carney should be allowed to remain in his position, accusing him of not behaving in an “independent manner”.

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