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BoE remit consultation would have created uncertainty - Osborne

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(Globalpost/GlobalPost)

LONDON (Reuters) - Chancellor of the Exchequer George Osborne said on Tuesday he considered launching a consultation about changing the Bank of England's remit but decided against it on the grounds it would create too much uncertainty.

In his annual budget last week, Osborne tweaked the central bank's remit to give it more leeway to focus on growth as well as inflation.

He set out a host of unconventional tools the bank could use and asked the bank's top policymakers to report back to him in August about the merits of setting "intermediate thresholds" for monetary policy.

Osborne was being questioned by MPs on last week's budget statement.

(Reporting by Christina Fincher)

http://www.globalpost.com/dispatch/news/thomson-reuters/130326/boe-remit-consultation-would-have-created-uncertainty-osborne