Lord Mervyn King criticizes a change in focus at the Bank of England that has seen its remit expanded beyond monetary policy King has warned that the amount of time and effort the Bank of England has devoted to net zero has weakened its ability to fight inflation. The former bank governor, who led Threadneedle Street from 2003 to 2013, said it made “absolutely no sense” to add net zero to the bank’s growing list of responsibilities, warning that ‘climate change’ had become a “straw”. Breaks the
Making achieving net zero a responsibility of the Bank of England (BoE) has hindered the institution s ability to fight inflation effectively, its former boss has suggested.