The IEO is an independent unit that sits within the Bank. It operates at arm’s length from other areas so as not to compromise the independence of the Bank’s policy making. The Court of Directors has a statutory obligation to keep the Bank’s performance under review, and the IEO supports this through its in-depth evaluations. When necessary, the IEO also supports reviews carried out by independent third parties.
The IEO reports directly to the Chair of Court, who sets the IEO’s remit and work programme, typically in consultation with other Court Directors.
If you have any questions or you would like to give feedback on the Independent Evaluation Office’s work, email firstname.lastname@example.org.
The Independent Evaluation Office 2022/3 work programme
In October 2022, Court commissioned the IEO to carry out an in-depth evaluation of how the Bank uses data to support its policy objectives. Work on this evaluation began in late 2022.
The IEO will also be supporting a review, led by Dr Ben Bernanke, of the Bank’s approach to forecasting during times of significant uncertainty. Work on this review began in summer 2023, with findings expected to be published in spring 2024.