Because the statement helped to lower the market interest rates, the effects were similar to those of the ECB. Following a new remit letter from George Osborne, the Chancellor of the Exchequer, in March 2013, the MPC released a comprehensive set of forward guidance over the future conduct of monetary policy in August 2013.
There is a great need for political endorsement at the global level. Then implementation is going to be, unavoidably, national. There is a shared sense that one of the great benefits for the financial-services industry was that over the last, say, 20 years, it has became global. Nobody denies this benefit now.