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Leave our policy alone, Bank of England official tells UK Conservatives

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Reuters UK

By David Milliken and Andy Bruce LONDON (Reuters) -A top Bank of England official pushed back on Monday at suggestions from a leading candidate to become Britain’s next prime minister that the government should set a “clear direction of travel” for monetary policy. Michael Saunders, one of nine members of the interest rate-setting Monetary Policy Committee, said the foundations of Britain’s monetary policy framework were best left untouched by candidates to lead the Conservative Party. Since 1997 the BoE has had “operational independence” to change interest rates as it sees fit to meet an infl…

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