The BoE’s current trajectory risks stagflation
Julian Jessop comments for City AM
Annabel Denham writes for The Telegraph
Julian Jessop comments for Politics.co.uk
“The Bank of England has done the bare minimum today – and it is not enough.”
“Macroeconomic policy is now in an even bigger mess. Fiscal policy is too tight and monetary policy is too loose, increasing the risks of stagflation.”
“Despite new forecasts that UK inflation will rise to above 10 per cent later this year, the Monetary Policy Committee (MPC) has raised interest rates by just a quarter of a point, to 1 per cent.”
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