The Bank of England gained independence from the British government in 1997.An independent central bank will help the British economy

Question

Quizplus · Accepted Answer

An independent central bank can avoid inflation by setting monetary policy and controlling the money supply. This can help to maintain price stability and keep inflation under control. While an independent central bank can work closely with the government, it is not able to set tax rates or print money at will without oversight. Additionally, while low unemployment may be a desirable outcome of good economic policies, an independent central bank's primary focus is on monetary policy and financial stability, not on setting fiscal policy or directly manipulating employment levels.

The Bank of England Gained Independence from the British Government