Growth policy, however, is more like soccer or cricket, where individual heroes cannot do much if their team members are weak or absent. When a central bank is playing for the growth team, what it can affect is demand, which can be applied to reduce the volatility of output.
Conclusion We are on track to complete the Code so that it will be released in London in May. At the end of that process, for the Code to be effective and for it to achieve what we want it to achieve, it will need to be accepted and endorsed across the full spectrum of market participants.