Christine Lagarde has said the consensus about the need for central bank independence was “coming under pressure”.

In a pre-recorded speech played at the Hungarian central bank’s Lámfalussy conference today (January 27), the European Central Bank president said that although legally enshrined independence had “never been more prevalent than it is today”, central banks’ actual independence was “being called into question in several parts of the world”.

Lagarde said the two forces that had fostered

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