New Policy Insight | No. 87: Central bank independence under threat?

Thursday, January 26, 2017

Central bank independence (CBI) means that monetary policy is delegated to unelected officials and that the government’s influence on monetary policy is restricted; this is traditionally viewed as an important counterbalance to inflationary biases.  This Policy Insight examines the role that central bank independence plays in the post-crisis world, and whether Willem Buiter was right, in 2016, when he declared that central banks "have become more powerful and political. They have not become more accountable".

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Policy Insight No. 87 Central bank independence under threat?