Economics
Revamp BOE or Yield to ‘Tyranny of Consensus,’ Blanchflower Says
Bank Underground station in view of the Bank of England.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
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The Bank of England rate-setting committee should be drastically overhauled to follow the model of the Federal Reserve, otherwise it will remain hostage to the “tyranny of consensus,” according to former policy maker Danny Blanchflower.