Bailey hints recession worth the price
The Bank of England brought out its big bazooka today, hiking interest rates higher than expected.
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The Bank of England brought out its big bazooka today, hiking interest rates higher than expected.
Governor Andrew Bailey needs more diversity of thinking on the Bank’s MPC committee which failed to spot the monetary influences driving inflation
The central bank has pushed up the cost of borrowing to its highest level in nearly 15 years amid concerns about stubbornly high inflation.
A fall in the exchange rate alongside plunging bond prices is a terrible combination, typically seen only in struggling third-world countries after years of economic blunders.
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The rates decision comes in spite of predictions that inflation will hit 4% this year.
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