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Treasury wanted BOE officials ‘the same as them,’ Altmann says

There are far more older women than older men, and the Bank of England policy in the post-crisis period had a dramatic negative effect on pensions and annuities, said a former director of the Sage Group.

By Robert Hutton and Jennifer Ryan | Updated on April 01, 2014

April 1 (Bloomberg) — The U.K. Treasury has limited the range of views at the Bank of England by appointing people with similar views to its own, according to Ros Altmann, who lost out in a bid to join the Monetary Policy Committee in 2012.

A former director-general of Saga Group, which represents pensioners, Altmann is a long-time critic of the BOE’s loose policy and lobbied for officials to consider the impact on savers of its record-low interest rate. In 2012, she applied and was shortlisted for the post of external MPC member, a role that ultimately went to Ian McCafferty.

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