Protect your wealth as the Bank of England goes for broke

The government is desperate for growth, but is committed to 'austerity'. So expect even looser monetary policy from the Bank of England. John Stepek explains what that means for you, and how to protect your wealth.

2013 is the year that the myth of the independent central bank is finally, and brutally, put to rest.

In the US, it's never really been an issue. Both the central bank and the government have always pandered to Wall Street, so there's never been a conflict as such.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.