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Response
200 OK
IP
3.21.28.69
Profiled on
Token
f7596d

ArticleController :: show

Request

GET Parameters

None

POST Parameters

None

Uploaded Files

None

Request Attributes

Key Value
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accept 
"*/*"
accept-encoding 
"gzip, br, zstd, deflate"
connection 
"close"
cookie 
"PHPSESSID=jrvis951o5h51fi7adcubp2p1u"
host 
"rct.dev.bbntimes.com"
user-agent 
"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)"
x-php-ob-level 
"1"

Request Content

Request content not available (it was retrieved as a resource).

Response

Response Headers

Header Value
cache-control 
"no-cache, private"
content-type 
"text/html; charset=UTF-8"
date 
"Wed, 16 Apr 2025 07:20:04 GMT"
link 
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"f7596d"

Cookies

Request Cookies

Key Value
PHPSESSID 
"jrvis951o5h51fi7adcubp2p1u"

Response Cookies

No response cookies

Session 6

Session Metadata

Key Value
Created 
"Wed, 16 Apr 25 07:19:41 +0000"
Last used 
"Wed, 16 Apr 25 07:20:03 +0000"
Lifetime 
0

Session Attributes

Attribute Value
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6 Usages
Stateless check enabled
Usage
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Symfony\Component\Security\Csrf\TokenStorage\SessionTokenStorage:79
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    "line" => 181
    "function" => "show"
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    "function" => "run"
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]
Symfony\Component\Security\Core\Authentication\Token\Storage\UsageTrackingTokenStorage:41
Show trace 
[
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/security-core/Authentication/Token/Storage/UsageTrackingTokenStorage.php"
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    "function" => "getMetadataBag"
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]
Symfony\Component\Security\Http\Firewall\ContextListener:171
Show trace 
[
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/security-http/Firewall/ContextListener.php"
    "line" => 171
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    "function" => "__invoke"
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Flashes

Flashes

No flash messages were created.

Server Parameters

Server Parameters

Defined in .env

Key Value
APP_ENV 
"dev"
APP_SECRET 
"0a988e63f011514eaabfc650b599af4d"
CORS_ALLOW_ORIGIN 
"*"
DATABASE_URL 
"mysql://bbndb_rctuser:33F5W25z40or0f7@localhost:3306/rct_bbntimes"
GOOGLE_RECAPTCHA_SECRET_KEY 
"6LdV5fgpAAAAANxzTG8ZMfIjil1wu-1vrQvnUt-x"
GOOGLE_RECAPTCHA_SITE_KEY 
"6LdV5fgpAAAAAENKcn73MJAhQrbtQeqgyC4wDLMP"
MAILER_DSN 
"smtp://no-reply%40rct.dev.bbntimes.com:Bl6%26gLD48%26Of919@rct.dev.bbntimes.com:465"
MARIADB_PASSWORD 
"i!87pK&!85ezc8"

Defined as regular env variables

Key Value
APP_DEBUG 
"1"
BASE 
"/public"
CONTEXT_DOCUMENT_ROOT 
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com"
CONTEXT_PREFIX 
""
DOCUMENT_ROOT 
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com"
FCGI_ROLE 
"RESPONDER"
GATEWAY_INTERFACE 
"CGI/1.1"
HTTPS 
"on"
HTTP_ACCEPT 
"*/*"
HTTP_ACCEPT_ENCODING 
"gzip, br, zstd, deflate"
HTTP_CONNECTION 
"close"
HTTP_COOKIE 
"PHPSESSID=jrvis951o5h51fi7adcubp2p1u"
HTTP_HOST 
"rct.dev.bbntimes.com"
HTTP_USER_AGENT 
"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)"
PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY 
"0"
PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY 
"0"
PATH 
"/usr/local/sbin:/usr/local/bin:/usr/sbin:/usr/bin:/sbin:/bin:/snap/bin"
PHP_SELF 
"/public/index.php"
PP_CUSTOM_PHP_CGI_INDEX 
"plesk-php81-fastcgi"
PP_CUSTOM_PHP_INI 
"/var/www/vhosts/system/rct.dev.bbntimes.com/etc/php.ini"
QUERY_STRING 
""
REDIRECT_BASE 
"/public"
REDIRECT_HTTPS 
"on"
REDIRECT_PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_REDIRECT_HTTPS 
"on"
REDIRECT_REDIRECT_PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_REDIRECT_PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_REDIRECT_SCRIPT_URI 
"https://rct.dev.bbntimes.com/global-economy/a-century-of-movement-toward-central-bank-independence"
REDIRECT_REDIRECT_SCRIPT_URL 
"/global-economy/a-century-of-movement-toward-central-bank-independence"
REDIRECT_REDIRECT_SSL_TLS_SNI 
"rct.dev.bbntimes.com"
REDIRECT_REDIRECT_STATUS 
"200"
REDIRECT_REDIRECT_UNIQUE_ID 
"Z_9aJGoKrZxLoz1OR4R2AQAAAIg"
REDIRECT_SCRIPT_URI 
"https://rct.dev.bbntimes.com/global-economy/a-century-of-movement-toward-central-bank-independence"
REDIRECT_SCRIPT_URL 
"/global-economy/a-century-of-movement-toward-central-bank-independence"
REDIRECT_SSL_TLS_SNI 
"rct.dev.bbntimes.com"
REDIRECT_STATUS 
"200"
REDIRECT_UNIQUE_ID 
"Z_9aJGoKrZxLoz1OR4R2AQAAAIg"
REDIRECT_URL 
"/public/global-economy/a-century-of-movement-toward-central-bank-independence"
REMOTE_ADDR 
"3.21.28.69"
REMOTE_PORT 
"23221"
REQUEST_METHOD 
"GET"
REQUEST_SCHEME 
"https"
REQUEST_TIME 
1744788004
REQUEST_TIME_FLOAT 
1744788004.1089
REQUEST_URI 
"/global-economy/a-century-of-movement-toward-central-bank-independence"
SCRIPT_FILENAME 
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/public/index.php"
SCRIPT_NAME 
"/public/index.php"
SCRIPT_URI 
"https://rct.dev.bbntimes.com/global-economy/a-century-of-movement-toward-central-bank-independence"
SCRIPT_URL 
"/global-economy/a-century-of-movement-toward-central-bank-independence"
SERVER_ADDR 
"5.196.1.209"
SERVER_ADMIN 
"[no address given]"
SERVER_NAME 
"rct.dev.bbntimes.com"
SERVER_PORT 
"443"
SERVER_PROTOCOL 
"HTTP/1.1"
SERVER_SIGNATURE 
"<address>Apache Server at rct.dev.bbntimes.com Port 443</address>\n"
SERVER_SOFTWARE 
"Apache"
SSL_TLS_SNI 
"rct.dev.bbntimes.com"
SYMFONY_DOTENV_VARS 
"APP_ENV,APP_SECRET,DATABASE_URL,MARIADB_PASSWORD,CORS_ALLOW_ORIGIN,MAILER_DSN,GOOGLE_RECAPTCHA_SECRET_KEY,GOOGLE_RECAPTCHA_SITE_KEY"
UNIQUE_ID 
"Z_9aJGoKrZxLoz1OR4R2AQAAAIg"

Sub Requests 6

CookieController :: renderAnalysis (token = c78d59)

Key Value
_controller 
"App\Controller\CookieController::renderAnalysis"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"16d5bb"

AppController :: renderHeader (token = 143014)

Key Value
_controller 
"App\Controller\AppController::renderHeader"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"7e61ee"
slug 
"home"

ArticleController :: trendingArticle (token = f7bf2e)

Key Value
_controller 
"App\Controller\ArticleController::trendingArticle"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"fb7309"
category 
"Global Economy"

ArticleController :: relatedArticles (token = cad06b)

Key Value
_controller 
"App\Controller\ArticleController::relatedArticles"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"cb06d4"
current_article 
App\Entity\Article {#1094
  -id: 16757
  -title: "A Century of Movement Toward Central Bank Independence"
  -slug: "a-century-of-movement-toward-central-bank-independence"
  -introtext: "<p>There has been a controversy in recent decades about the independence of central banks from the rest of the government.</p>\r\n"
  -content: """
    \r\n
    <p>The ongoing concern–especially the high inflation rates that rocked the US and other countries around the world in the 1970s and 1980s–was that governments have a bias toward inflation. Politicians want the central bank to help finance their spending; conversely, politicians will often oppose anything that might slow the economy, like higher interest rates. However, if the central bank can be given a clear goal, like a low rate of inflation, then it can push back against the inflationary biases of the rest of the government.</p>\r\n
    <p>Thus, many central banks around the world, like the European Central Bank, have a clear-cut target for low inflation as their only policy goal. The US Federal Reserve has a “dual mandate,” to keep inflation low but also to fight recession. But central banks are often expected to deal with other tasks as well, like dealing with financial crashes and participating in bank and financial regulation.</p>\r\n
    <p>Here, I won’t try to resolve these disputes, but instead will simply point out the long-term pattern: the arguments for greater central bank independence seem to be prevailing.&nbsp;<a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4716704" target="_blank" rel="noopener">David Romelli discusses “Trends in central bank independence: a de-jure perspective”</a>&nbsp;(BAFFI CAREFIN Centre Research Paper N. 217, February 2024; for a readable short overview,&nbsp;<a href="https://cepr.org/voxeu/columns/recent-trends-central-bank-independence" target="_blank" rel="nofollow noopener">https://cepr.org/voxeu/columns/recent-trends-central-bank-independence</a>).</p>\r\n
    <p>Basically, Romelli collects records of legal changes across 42 categories that reflect more or less central bank independence. I’ll provide the full list of categories below, but they can be grouped into categories like how the governor and board of the central bank are chosen and the rules of governance; how monetary policy is set; whether the central bank has specific statutory goals; limitations on the central bank loaning directly to the <a href="politics/uk-government-splashes-1-5m-into-science-and-tech-investment-drive" target="_blank" rel="noopener">government</a>; whether the central bank is financially independent; and rules governing reporting and disclosure for the central bank.</p>\r\n
    <p>Taking these together, the basic theme is that central bank independence doesn’t change much up until about 1990, when there is a dramatic shift upward. The shift occurs across countries at all levels of economic development: high-income, middle-income, low-income. The momentum toward greater central bank independence stalls for a few years after the 2007-09 global financial crisis, when legislators and central banks were understandably focused on other topics, but has resumed since then.</p>\r\n
    <p><img src="/images/Number_of_reforms_per_year.png" alt="Number_of_reforms_per_year.png" width="724" height="529" /></p>\r\n
    <p>Romelli writes:</p>\r\n
    <p style="padding-left: 30px;">This paper presents an extensive update to the Central Bank Independence – Extended (CBIE) index, originally developed in Romelli (2022), extending its coverage for 155 countries from 1923 to 2023. The update reveals a continued global trend towards enhancing central bank independence, which holds across countries’ income levels and indices of central bank independence. Despite the challenges which followed the 2008 Global financial crisis and the recent re-emergence of political scrutiny on central banks following the COVID-19 pandemic, this paper finds no halt in the momentum of central bank reforms. I document a total of 370 reforms in central bank design from 1923 to 2023 and provide evidence of a resurgence in the commitment to central bank independence since 2016. These findings suggest that the slowdown in reforms witnessed post-2008 was a temporary phase, and that, despite increasing political pressures on central banks, central bank independence is still considered a cornerstone for effective economic policy-making.</p>\r\n
    <p>Here’s the list of 42 characteristics affecting central bank independence in Romelli’s index:</p>\r\n
    <p><img src="/images/Institutional_Characteristics.png" alt="Institutional_Characteristics.png" width="723" height="1080" /></p>
    """
  -user: Proxies\__CG__\App\Entity\User {#1092 …}
  -createdAt: DateTime @1711332960 {#1145
    date: 2024-03-25 02:16:00.0 UTC (+00:00)
  }
  -updatedAt: DateTime @1711333962 {#1150
    date: 2024-03-25 02:32:42.0 UTC (+00:00)
  }
  -deletedAt: null
  -category: App\Entity\Category {#445 …}
  -status: "published"
  -imageCard: Proxies\__CG__\App\Entity\File {#1184 …}
  -ImageHeader: Proxies\__CG__\App\Entity\File {#1184 …}
  -featured: false
  -mainView: false
  -clicks: 2224
  -comments: Doctrine\ORM\PersistentCollection {#1125 …}
  -reviewed_at: DateTime @1711332960 {#1148
    date: 2024-03-25 02:16:00.0 UTC (+00:00)
  }
  -metakey: "A Century of Movement Toward Central Bank Independence"
  -metadesc: "There has been a controversy in recent decades about the independence of central banks from the rest of the government."
  -robots: null
  -publishedAt: DateTime @1711332960 {#1147
    date: 2024-03-25 02:16:00.0 UTC (+00:00)
  }
  -canonical: null
  -superTag: null
}

AppController :: renderFooter (token = 4fa797)

Key Value
_controller 
"App\Controller\AppController::renderFooter"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"573786"

CookieController :: renderCookie (token = 642573)

Key Value
_controller 
"App\Controller\CookieController::renderCookie"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"b027c3"