For decades, the prevailing orthodoxy in advanced economies has been to let central banks do their jobs free from the whims of politicians.

But central banks have been severely tested during the global inflation crisis as they’ve been forced to raise interest rates to drive down soaring price rises, with mixed results.

And that cherished independence is being questioned, especially by Donald Trump as he campaigns to be U.S. president again.

CGNT’s Owen Fairclough explains.