BOE Distracted From Crisis by Climate Goal, Two Ex-Officials Say
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The Bank of England was distracted from its main mission of taming inflation by additional objectives and risks damaging its credibility by working on climate-related goals, according to two of the central bank’s former senior staff.
Paul Tucker, a BOE deputy governor until 2013, warned the central bank is “involved in too many things beyond it core remit” and was too slow to assess the financial threats related to the trouble at Silicon Valley Bank and Credit Suisse.