Guy Debelle: Central bank independence in retrospect

Address by Mr Guy Debelle, Deputy Governor of the Reserve Bank of Australia, at the Bank of England "Independence - 20 years on" Conference, London, 28 September 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

It is a pleasure to be here today to celebrate 20 years of central bank independence for the Bank of England.

I have been tasked with discussing central bank independence in retrospect. In part, this is because a little more than two decades ago, Stan Fischer and I wrote about central bank independence in prospect and posed the question: How Independent Should a Central Bank Be?