The perils of asking central banks to do too much | The Economist

The perils of asking central banks to do too much

Dealing with inequality and climate change is best left to politicians

THE PARLIAMENTARY act that chartered the Bank of England in 1694 begins by describing the motivation of its authors, “to promote the publick Good and Benefit of our People”. Ideas about how best the bank can serve the publick have changed a bit over the centuries, from managing the market for government debt, to maintaining the value of sterling against gold, to, in recent decades, keeping inflation in the region of 2%.

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