ABSTRACT
The previous chapter has demonstrated a great variety of inflationary and monetary experiences across the BoE group. As we have already conjectured, might some large part of this variation be due to the differing pressures that governments have placed on their central banks? In the OECD countries such pressures are often ascribed to the myopic desire of governments to engender a short-term feel-good factor for electoral purposes. In developing countries such pressures are, perhaps, caused more by the perceived objective of filling a fiscal hole.
