BOE will no longer hold secret briefings with banks

Author: Adam Button | Category: Central Banks

Reuters report

Reuters report
The Bank of England will no longer hold off-the-record briefings with financial institutions, Reuters reports, citing information from the BOE.

The report cites problematic recent news about ECB chief economist Phil Lane telling German banks about an undisclosed rate hike scenario. The ECB also announced it would end closed door briefings after that episode.

This -- combined with the Fed's reckoning on Kaplan's trading of S&P 500 futures -- are much needed steps towards transparecy and restoring public trust.

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