Bank of England granted political independence

Bank of England granted political independence

May 6, 2009 04:00:00 am

On May 6, 1997, British Chancellor of the Exchequer Gordon Brown announced that the Bank of England would be granted political independence for the first time in the three-hundred year history of the Bank. This policy was statutized in the subsequent Bank of England Act of 1998 gave the Bank independent control of British monetary policy effective June 1, 1998.

Read the Bank of England Act of 1998.

THIS DAY @ LAW

Massachusetts instituted death penalty for heresy

On November 4, 1646, the Massachusetts General Court approved a law requiring all members of the colony to recognize the Bible as the Word of God, under penalty of death.

Israel PM Yitzhak Rabin assassinated

On November 4, 1995, Yigal Amir shot and killed Israeli Prime Minister Yitzhak Rabin in response to the Oslo Accords peace agreement with the Palestine Liberation Organization. Amir was tried and given a life sentence for the murder. Learn more about the trial of Yigal Amir from the New York Times.