Bank of England critics barking up the wrong tree

London

THE Bank of England has faced criticism from eurosceptics in the UK Parliament and elsewhere for allegedly having unduly supported the government's bid to keep Britain in the European Union. Mark Carney, the governor, recently told MPs that the prospect of leaving was the "biggest domestic risk to financial stability".

The chief executive of a property group said in a letter to the Financial Times that, by announcing it would pump cash into the banking system in the event of Brexit, the bank was joining "the UK prime minister's Project Fear", which "undermined its independence".