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Banking secrecy for the BoE?

Posted on Tuesday, February 12, 2008 at 11:35AM by Registered CommenterSimon Ward | CommentsPost a Comment

The UK authorities have been unhappy with the use made of the weekly Bank of England return to estimate the Bank’s lending to Northern Rock and are proposing to abolish it.

Central bank transparency is an important principle that should not be discarded lightly. The claimed benefit of increased operational flexibility is dubious.

A letter to the Financial Times opposing this change can be found here.

I am away for a few days and will post again next week.

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