trending Market Intelligence /marketintelligence/en/news-insights/trending/fmXwEEpCiz01zSaTlJsAkA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

BoE, UK Treasury must work together to address 'legitimacy crisis': think tank

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


BoE, UK Treasury must work together to address 'legitimacy crisis': think tank

The Bank of England and the U.K. Treasury must coordinate efforts to address a "crisis" of legitimacy and accountability at the central bank, according to a report published by think tank Positive Money.

"The financial crisis revealed a substantial gap between reality and the orthodox economic theory of central bank independence," the report said. This weakened public trust in central banks and revealed serious problems for accountability and democratic legitimacy.

"Governments must act to free central banks from the illegitimacy trap," the think tank urged while outlining a number of recommendations.

The recommendations focused primarily on reforming the relationship between the Bank of England and the Treasury, improving "the links between them, and updating the protocols that govern their shared responsibility for the economy." In particular, the Treasury should carry out an independent review into monetary policy strategies following a crisis to provide economic lessons as well as greater accountability.

The think tank also suggested that the Treasury reform the appointment process for governor of the BoE and members of its monetary policy committee, mainly by providing more clarity on the list of candidates and altering job descriptions to diversify potential applicants.

To improve accountability, the Treasury should also allow independent academics and civil society representatives to weigh in on reviews of the central bank's policy decisions, Positive Money said. The think tank also suggested that the Treasury and the Department for Business, Energy and Industrial Strategy create a joint commission to develop a credit policy framework for the U.K., with external representatives comprising a majority of the proposed panel.