Pierre: The central bank faces the risk of being forced to finance fiscal deficits

The Chief Economist of the Bank of England, Peel, stated that the biggest threat to central bank independence is the government's push for central banks to finance huge fiscal deficits. The slowdown in economic growth and supply shocks have led to an expansion of global fiscal deficits and an increase in public debt levels. Financing through central banks will raise questions about their independence in the market.