In this speech, the Governor first identifies the polar positions often taken on the issue of central bank independence: at one extreme a set of elite individuals beyond political influence and with extensive but generally defined powers; at the other the central bank as simply another arm of...

In his annual speech at the Mansion House, the Governor reports on an improving international environment. Risks to the outlook remain from the imbalances within and between the industrial countries, which persisted over the past year, but the global economy may now at least be moving in the...

In this speech, the Governor first discusses the long-term changes that have occurred in the approach to economic management in the United Kingdom, then sets out the improvement in recent economic performance. The Governor goes on to say that the economic problem for the United Kingdom is the...

In this speech, the Governor discusses the task of setting monetary policy in the context of the synchronized economic downturn in the world economy, and notes the difficult conditions for the internationally exposed sectors in all the major economies including the United Kingdom. Looking...