Bank of England

Margaret Reid

Chapter 10 in All-Change in the City, 1988, pp 205-241 from Palgrave Macmillan

Abstract: Abstract The Bank of England is ‘not a nationalised industry, [it is] a national institution’, proudly claimed Lord O’Brien, the then Governor of that august body, to a House of Commons committee in 1970.3 His second claim was indisputable and, as to the first, Lord O’Brien was making the point that the Bank should not be equated with such usual subjects of the then Select Committee on Nationalised Industries as the Coal Board and British Rail. Altogether his dictum reflected the Bank’s belief that, in a very real sense, it enjoyed some independence, notwithstanding its purchase by the State under Labour in 1946.

Keywords: Interest Rate; Monetary Policy; Central Bank; Prime Minister; Executive Director (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-07005-3_10

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DOI: 10.1007/978-1-349-07005-3_10

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