The Know Daily - Wednesday 27 May 2026

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A great horned owl has been fitted with replacement feathers in a rare “feather transplant” procedure so it could fly silently again, which is essential for survival in the wild. After months of care, it finally took off again – watch the video here 🦉

🏦 Central bank independence

Central banks are deliberately set up to sit outside the world of day-to-day politics. They’re the ones pulling the levers on the stuff that hits our bank accounts directly – think interest rates, mortgages, borrowing costs and keeping inflation from spiralling. But recent economic pressures have seen a number of politicians challenge their independence.

So what is “central bank independence”?
It means central banks – like the Bank of England or the Federal Reserve – can make decisions about interest rates and inflation without direct political interference. Governments still set broad economic goals, but central banks are supposed to decide how to achieve them independently. The idea became widely popular in the late 20th century, after economists argued politicians were often tempted to boost the economy for short-term political gain, even if it risked higher inflation later on. Supporters say independent central banks act as an important check on governments, helping to create stability and keep inflation under control.

OK, why is it suddenly under pressure?
A big reason is that central banks have had a difficult few years. Inflation surged after the pandemic, interest rates rose sharply and many households blamed central banks for the higher cost of living. At the same time, governments are dealing with weak growth, rising borrowing costs and huge levels of public debt.

Politicians in several countries have become more openly critical of central banks – particularly when high interest rates make mortgages, borrowing and government spending more expensive. In the US, for example, Donald Trump has repeatedly criticised the Federal Reserve and pushed for lower interest rates. Reuters recently reported growing concern over whether political pressure on the Fed could weaken perceptions of its independence.

What happens when politicians get involved?
Some economists and politicians argue central banks now have too much power with too little democratic accountability. Critics say decisions with such wide economic consequences should not sit entirely with unelected technocrats. But, as the Guardian highlights, recent political pressure on the Fed has fuelled concerns that central banks could become more exposed to short-term political influence, potentially undermining confidence in long-term economic stability.

Markets also tend to react negatively when investors think politicians are trying to influence central banks. Investors rely on central banks to be predictable and guided by economic data rather than political pressure. If that confidence weakens, government borrowing costs can rise and currencies can fall in value, making imports more expensive and potentially pushing inflation higher.

So does independence still matter?
Supporters argue that once politicians directly influence interest rates, there’s a risk decisions become driven by election cycles rather than long-term economic stability. That can undermine trust in financial systems and make inflation harder to control. European Central Bank board member Isabel Schnabel recently spoke about the “quiet erosion” of central bank independence, arguing political interference risks weakening confidence that inflation will stay under control.

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🤖 Pope Leo has called for clearer global rules on AI, saying the technology should be properly regulated as it becomes more widely used in areas like security and public services.

• The bigger story: Speaking at a Vatican event presenting his first major document, he warned that AI is developing quickly and should be guided by strong ethical and legal frameworks to ensure it is used responsibly. He highlighted the need for human oversight in important decisions and said governments should work together to agree on shared standards as the technology spreads. The comments add to a growing international conversation about how to balance innovation in AI with safeguards that keep humans firmly in control of how it is used.

👶 A wearable ultrasound patch that can continuously monitor babies in the womb has been created by scientists. 

🚀 China has launched a spacecraft carrying three astronauts towards its Tiangong space station – with one crew member set for a year-long stay in orbit.

🍷 A ban on night-time alcohol sales will apply across Warsaw from 1 June in the hope it will boost safety across the city.

👩‍⚕️ The UK's most senior doctors have responded to the government’s consultation about social media use for under-16s, saying medical professionals should routinely ask younger patients about their screen time.

🍿 Films are more likely to star an actor named “Chris” than a female lead over 60, according to data from the Age Without Limits campaign. 

🏛️ The most beautiful new museums in the world have been unveiled by a prestigious architecture and design award.

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