Andrew Lilico, IEA Economics Fellow, has been quoted in The Express on the recent interest rate raise by the Bank of England.

Arguing that too little was done too late, Andrew says:

“The Chancellor continues to set the Bank of England a 2 percent inflation target but the Bank continues to make little effort to keep inflation at that level, except on some vague long-term basis that involves ‘seeing through’ notionally ‘short-term spikes’ in inflation – where ‘short-term’ apparently now means ‘two or more years’ and ‘spikes’ means inflation in the double digits.

“This should not be considered adequate.”

Read the article here.