Source: Cobden Centre
by Damien Phillips
“For those of us who think central banks are a destabilising blight on the economy, responsible for encouraging malinvestment and engines of inflation, it’s tempting to lump them all into the same boat. But just as in George Orwell’s ‘Animal Farm,’ ‘All animals are equal, but some animals are more equal than others.’ This is particularly apparent when it comes to keeping inflation down. Putting aside the inherent problems with inflation targeting, price stability is typically the primary objective for most modern central banks. But as the UK endures a further round of above-target inflation at 3.8% for yet another gruelling month, when you pit the Bank of England against its contemporaries around the world it has a terrible track record that goes beyond the basic problem of knowledge that faces all central banks.” (12/18/25)
https://www.cobdencentre.org/2025/12/not-all-central-banks-are-created-equal/