Haldane hits back at accountability critics

THE BANK of England is more transparent and accountable now than at any time in its 318-year history, executive director Andrew Haldane said yesterday. “Think back twenty years. Then, there were no quarterly Inflation Reports, no six-monthly Financial Stability Reports and certainly no press conferences to accompany both,” he said, hitting back at critics who believe the Bank is too unaccountable given its enormous new powers. “Twenty years ago there were no minutes of the deliberations of the Bank’s committees.”