Bank of England behind the curve once again
Shadow Monetary Policy Committee featured in The Herald
IEA Research reference in The Telegraph
Julian Jessop quoted in The Daily Express
“After being too slow to raise interest rates in 2021, when inflation was soaring, the Monetary Policy Committee now looks set to leave rates higher for longer as inflation plummets. Last month, the Bank was forecasting inflation would still be 4.4 per cent in the first quarter of 2024 and not return to the official target of two per cent until the end of 2025.
“We have now learned that it has already fallen to 3.9 per cent in November. What’s more, almost every piece of new evidence suggests that inflation will continue to fall sharply in the New Year, just as it has in the US and most of the rest of Europe.”
Read the full article on page eight of The Daily Express (21/12/2023).