Julian Jessop, IEA Economics Fellow, has commented in the Mail on calls for an inquiry into why the Bank of England failed to predict the high levels of inflation we are now experiencing.

Julian argued that a parliamentary inquiry would be beneficial and commented:

“The Bank’s failure to predict that inflation would take off was a massive error, with huge costs to the economy and people’s wellbeing. Of course, the Bank was far from alone here.”

“But a parliamentary investigation would be another opportunity to explore specific problems in the UK, including the lack of attention to the monetary drivers of inflation.”

Read the full article here.