The Bank of England looks set to become the latest central bank to succumb to a review of its policy remit, as governments around the globe put pressure on the world’s monetary authorities to kick-start an economic recovery.
British ministers plan to use the UK annual budget this month to clarify how monetary policy can be used to spur economic growth.
The UK government’s discussions come just months after Shinzo Abe, Japan’s prime minister, pressed the Bank of Japan to double its inflation target to 2 per cent, raising fresh doubts about central banks’ independence from lawmakers.
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