“a central bank that cannot see the risk in its own money supply numbers might be doing a lessthanoptimal job the boe accepts that its models aren’t quite what they should be and is planning to have an external expert review them but this is too little too late as anyone whose living standards are being destroyed by 87 cpi and 6 mortgage rates will unhappily tell you the whole idea of central bank independence needs to be looked at again if it is this that has turned the boe into a bastion of academic groupthink maybe we haven’t got it quite right alternative thinkers need to be brought into the tent and actually listened to”