Central banks should be independent of government. But our research shows they are under political pressure
- Written by Igor Goncharov, Professor of Accounting, LUMS Doctoral Programmes Director, Lancaster University
The Bank of EnglandLois GoBe/ShutterstockIn 2023, central banks, which manage the monetary policy of a country, faced unprecedented financial losses – the US Federal Reserve alone reported a record US$114.3 billion (£86 billion) operating loss.
Losses like this have become increasingly common, with 40% of central banks in developed...
