Monetary Policy

Bank of England risks overkill with latest rate hike

Julian Jessop quoted in the Express

IEA Economics Fellow Julian Jessop has been quoted in an Express article covering the damages consecutive and unnecessary interest rate increases could cause. 

The Express wrote:

“But Julian Jessop, Economics Fellow at the free market Institute of Economic Affairs claimed the BoE should “pause” to consider the effect of already heightened interest rates before raising them further.

“It would have made more sense to pause to assess the impact of the large increases in rates that have already taken place, as other central banks have done.

“The UK economy is like a frog slowly being cooked by ever higher interest rates. By raising the temperature further now, the Bank risks doing too much and, once again, only realising its mistake when it is too late.

You can read the full article here.

Julian’s response to the interest rate rise was also covered in the Lancashire Times, Web Times, Investment Week, AOL, and Northern Echo.