All items > Financial basics > inflation > When Central Banks buy Bonds – Independence and the Power to say No
When Central Banks buy Bonds – Independence and the Power to say No
| Publisher | Bank of England |
| Topics | inflation, interactions finance-economy, monetary policy, securities |
| Author | Adam Posen, External Member, Monetary Policy Committee, Bank of England and Senior Fellow, Peterson Institute for International Economics |
| Additional infos | Barclays Capital 14th Annual Global Inflation-Linked Conference, New York, 14 June 2010 |
| Published on | June 14, 2010 |
| Pages | 13 |
In comments at the Barclays Capital 14th Annual Global Inflation-Linked Conference in New York today, Adam Posen counters those who argue that the large-scale purchases of government bonds or private-sector securities by central banks compromises their independence from elected officials, their reputation and thus their counter-inflationary credibility. Dr Posen argues that central bank independence is not primarily a matter of reputation, but of reality.
Source: Bank of England
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