Lord Desai
Main Page: Lord Desai (Crossbench - Life peer)Department Debates - View all Lord Desai's debates with the HM Treasury
Bank of England: Interest Rate Policy
Lord Desai Excerpts(10 months ago)
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Lord Desai (CB)
My Lords, would the Minister not agree that, although independence of the Bank of England is all right, what we need is competence? The Bank of England was more competent when it was not independent than it is now when it is.
Baroness Penn (Con)
Much as noble Lords continue to ask me to comment on the conduct of monetary policy by the Bank of England, as I said, the Government do not comment on the conduct or effectiveness of monetary policy. We continue to support the MPC as it takes action, and we focus on making the tough decisions necessary to tackle inflation.