In recent news, the British finance minister Philip Hammond has appointed HSBC,’s Karen Ward to advice him as the country breaks away from the EU. Ward joined HSBC as an economist in 2006 and eventually became the bank’s chief European economist last year. Hammond has previously said that he’s worried that the EU has a lot to lose with the Brexit retreat.
In a report that Ward wrote with HSBC’s chief UK economist Simon Wells, it said,
“This will further blur the distinction between central banks and governments. So far as they ever could, central banks can no longer ignore the wishes of their political masters.”
Read more details of these changes.