Bank of England Governor Mark Carney said verbal attacks by politicians on central banks, such as criticism by U.S. President-elect Donald Trump of the U.S. Federal Reserve, were a "massive blame-deflection exercise".
Carney has faced political heat in Britain for the BoE's low interest rates while Trump, during the U.S. presidential election campaign, accused the Federal Reserve of keeping rates low due to pressure from the Obama administration.
"The President-elect has voiced some views on the Fed and the stance of monetary policy," Carney said in response to questions from members of Britain's parliament on Tuesday.
Carney said it was "very important" to explain that the causes of ultra-low interest rates in Britain and other rich countries went far beyond decisions made by central bankers
"An excessive focus on monetary policy in many respects is a massive blame-deflection exercise," he told a committee in parliament.
Carney has previously said interest rates are low because they reflect weaker demand and investment, a trend that has been developing worldwide since the 1980s due to factors such as globalisation, the impact of technology and ageing populations.
Reversing this long-run trend was not in the BoE's power, Carney said on Tuesday, and he called on governments to step up.
"We could be stuck in this trap, and I use that word advisedly, for decades ... if we don't see major structural reforms," he told lawmakers.
The BoE cut interest rates to a record low of 0.25 percent in August to help the British economy cope with the impact of the decision by voters to leave the European Union in June.