Economics
BOE’s Worst Policy Leak of 21st Century Tests Regime of Secrecy
- Changes recommended in 2014 review allow more time for leaks
- Official breaches have become political norm since Brexit vote
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The Bank of England’s worst leak in almost a quarter of a century of monetary policy independence has cast doubt on its ability to keep a secret.
The Sun newspaper’s Nov. 5 scoop on the BOE’s plans for a bigger-then-expected expansion of quantitative easing that day, headlined with the exact outcome that transpired, shines an uncomfortable light on the institution’s practice of taking such decisions and then sleeping on them before they’re announced.