The Bank of England (BOE) named former US Federal Reserve chairman Ben Bernanke to lead a review into its economic forecasting, a move that appeared designed to defuse criticism that the UK central bank acted too slowly to contain inflation. Bernanke, described by colleagues as a 'preeminent economist,' led the US central bank through the global financial crisis until 2014 and will support an external probe into the BOE's forecasting approach and monetary policy making, the BOE said in a statement on Friday (July 28).

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