Monetary Policy

The Bank of England should raise the bank rate to 1.75 per cent

IEA quoted in The Times

The IEA has been quoted in the Times urging the Bank of England to raise the bank rate.

Referencing the IEA’s recommendations, the article reads: 

“The think tank’s shadow monetary policy committee, a group of independent experts, has voted unanimously to raise the Bank rate.”

“There was also a majority view that the rate should be raised further in the coming months, but a significant minority felt there should be a pause before further rises.”

“The committee has met at least once a quarter at the Institute of Economic Affairs since July 1997, when it was it the first such group in the UK.”

Read the full article here.