BoE risks recession
18 December 2023
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In the Media
Energy and Environment
18 December 2023
Economic Theory
25 June 2024
Julian Jessop quoted in The Express
IEA Economics Fellow Julian Jessop has been quoted in The Express, responding to the Bank of England leaving the base interest rate unchanged.
Julian said:
“The Bank of England’s decision to keep interest rates on hold, despite the rising risks of a recession, is not completely bonkers. The Monetary Policy Committee’s job is to worry about inflation, not growth, and inflation is still well above its 2 per cent target.
“Unfortunately, the Bank currently lacks the confidence or the credibility to cut interest rates until it is certain that inflation is back under control. By then, it may be too late to prevent a prolonged slump.”
Read the full article here.
Julian’s comments have also been quoted in Business Money and Wealth Briefing.
Julian said:
“The Bank of England’s decision to keep interest rates on hold, despite the rising risks of a recession, is not completely bonkers. The Monetary Policy Committee’s job is to worry about inflation, not growth, and inflation is still well above its 2 per cent target.
“Unfortunately, the Bank currently lacks the confidence or the credibility to cut interest rates until it is certain that inflation is back under control. By then, it may be too late to prevent a prolonged slump.”
Read the full article here.
Julian’s comments have also been quoted in Business Money and Wealth Briefing.
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