Inflation can be controlled without further rate rise
Shadow Monetary Policy Committee referenced in The Mail
Prof. Len Shackleton and Matthew Lesh quoted in Daily Business
Shadow Monetary Policy Committee referenced in CCR Magazine and The Scotsman
Trevor Williams, the SMPC’s Chair, said:
“The recent bank failures in the US – and SVB UK – are a sign of too rapid a withdrawal of liquidity. Most members of the SMPC believe monetary tightening has gone too far and some of it should be reversed either through resuming Quantitative Easing or lowering the Bank rate. Doing both Quantitative Tightening and raising Bank rate further above 4 per cent is morphing into monetary overkill.”
The CCR piece can be read here, The Scotsman piece here, and the Yahoo! article here.