Farage’s Rise Calls Bank of England Independence Into Question

In the nearly three decades since Gordon Brown handed control of interest rates to the Bank of England, the move has been broadly viewed as a success in helping to keep inflation under control. Now that consensus appears to be breaking down.

The surge of Nigel Farage’s Reform UK party in national opinion polls poses a direct challenge to the BOE at a time when central bank independence is being tested across the world. Farage, a vocal supporter of Donald Trump, has at times targeted the BOE in a way that echoes the US President’s aggressive approach to the US Federal Reserve.