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Financial Times notices that central banks are taking over the world
Carney on Climate: Central Bankers Stray from Mandate
By Ferdinando Giugliano
Financial Times, London
Wednesday, September 30, 2015
Mervyn King, the former Bank of England governor, said "a successful central bank should be boring."
Judging from Mark Carney's surprise intervention in the climate change debate this week, his predecessor's views are out of fashion at Threadneedle Street.
The governor's considerations have caught the public by surprise, raising questions over whether a central banker should feel free to opine on topics that are seemingly outside his mandate.
With central bankers in the UK and elsewhere routinely wading into areas of government policy, from corporate governance to structural reforms, critics fear these interventions might be a symptom over-reach by unelected technocrats. ...
... For the remainder of the report:
http://www.ft.com/intl/cms/s/0/3ac7e22c-6782-11e5-97d0-1456a776a4f5.html
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