Bank Of England Gives A Lesson In Honest Central Banking
(Bloomberg Opinion) --
It should also be noted that the UK’s situation differs in some important way from those of other countries. The country’s economic challenges are complicated not only by the energy price catch-up but also by the political transition and the changing nature of the country’s relations with its trading partners.
This is not to say that the implications for other countries do not go beyond the importance of analytical directness and intellectual honesty. They do. Indeed, I can think of four others:
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Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”
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