The Case against the Maastricht Model of Central Bank Independence

Diane Abbott

Chapter 18 in The Impact of the Euro, 2000, pp 226-231 from Palgrave Macmillan

Abstract: Abstract On 1 May 1997, the Labour Party won a historic election. Within weeks the new government announced that it was handing over interest rate policy to the Bank of England. This surprise decision was nonetheless greeted with acclaim. But it was the wrong decision. Taken for the wrong reasons. Announced in the wrong way. And it may fatally undermine the government’s wider social aims.

Keywords: Interest Rate; Monetary Policy; Central Bank; Labour Party; Central Bank Independence (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37244-3_18

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DOI: 10.1057/9780230372443_18

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