LONDON, Feb 5 (Reuters) - Bank of England Governor Andrew Bailey said that concerns in some parts of financial markets that the BoE had compromised its independence by the huge scale of its government bond purchases were “entirely without merit”. “Independent pursuit of an inflation target does not mean that monetary policy is uncorrelated with other macro policies, including fiscal policy,” he said in an online speech to the London School of Economics. Bailey said financial market inflation expectations showed that investors did not expect the BoE to break its mandate and let inflation get out of control. (Reporting by David Milliken; editing by Alistair Smout)