Which central bank gained the power to set interest rates independent of the government in the late 1990s?

Question

Quizplus · Accepted Answer

In 1997, the UK government granted the Bank of England independence to set interest rates and other monetary policies without political interference. Therefore, the correct answer is Bank of England (A). The Bank of Canada (B) and the Federal Reserve Bank (D) were already independent before the late 1990s. The Bank of China (C) is the country's central bank, but it is not independent and operates under the government's guidance.

Which Central Bank Gained the Power to Set Interest Rates