Able Quote by Ian Macfarlane
“A government cannot be expected to allow independence to its central bank unless that bank is also accountable to it and to the wider public. That is, the central bank must be able to be judged on whether or not it has achieved its agreed objective.”
About This Quote
Source Interview: Financial Times, 2010
A central bank must be independent yet accountable to the government and public, judged by its performance.
In simple terms: Banks need freedom and oversight.
Key Takeaway
Balance independence with accountability.
Themes
economics
governance
accountability
Mood
analytical
concerned
Type
economic
policy
When to use this quote
- budget planning
- policy evaluation
- financial stability
Key Concepts
monetary policy
public trust
Questions to Reflect On
- How should central banks be evaluated?
- What mechanisms ensure both independence and accountability?
A Different Perspective
Too much independence can lead to unresponsive policies.
