AI summary
The Bank of England’s weak response to inflation risks keeping UK interest rates high and prices above target until at least 2030.
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Bank of England’s inflation response ‘risks higher interest rates for longer’
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Thinktank Niesr says timid rate rise last week likely to make inflation more persistent feature of UK economyThe Bank of England is risking higher interest rates for longer after a hesitant response to rising inflation, according to leading thinktank.In a searing critique of the central bank’s tactics, the National Institute of Economic and Social Research (Niesr) said a timid increase in interest rates last week was likely to mean inflation staying above the Bank’s 2% target until at least 2030. Continue reading...
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