Monetary Policy

A monetarist analysis of the Bank of England’s grim inflation predictions


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IEA referenced in The Telegraph

The IEA’s Shadow Monetary Policy Committee has been referenced in The Telegraph by Tim Congdon, who is a member of the group.

Tim wrote about the Bank of England’s forecast that May will see “the worst inflation news in 25 years”, and argued that supply chain issues may not be entirely to blame.

He quoted the Shadow Monetary Policy Committee, who stated:

“We write to express our concern about the rapid growth of the quantity of money in the UK. We believe that above-target inflation is to be expected in 2022 and perhaps 2023.

“In our view, the Bank of England will be to blame for this setback, as it took the measures that have pushed money growth to its current excessive level. We fear that inflation above 5pc is likely at some point in the next few years.”

Read the full article here.



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