User talk:PiperP

Bank of England
The Bank of England is not like the Federal Reserve in the U.S.

It is government owned and not independent as you seem to think. The website is, I admit, a bit ambiguous at one point in this regard. Please refer to the Act I gave a reference to if you are in any doubt. You will see that The Governor, the two Deputy Governors and the 16 directors of the Bank are all government appointments. You will see that all the MPC members are people either appointed by the government or approved with consultation of the government. The idea was to create a "wise man" committee and free the Chancellor from being too involved in decisions about interest rates which may be controversial. Even so, the government and parliament can overrule the committee's decisions.--Tom (talk) 22:05, 17 October 2008 (UTC)

PS Can you please give an explanation in the Edit Summary box when making edits in Wkipedia. It helps to understand what the change is about when browsing history. Thanks.--Tom (talk) 22:09, 17 October 2008 (UTC)