Following the review of the Monetary Policy Committee’s (MPC) transparency practices and procedures,udthe Bank of England today published a report by former Federal Reserve Board Governor KevinudWarsh. Warsh makes five broad recommendations for creating a balance between the demand forudgreater transparency and the intrinsic defence of genuine deliberation as the foundation for soundudpolicymaking. Cheryl Schonhardt-Bailey finds the report is a novel approach to the conundrumudthat transparency poses to good public policy in the face of uncertainty.
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