“Andrew Bailey: Soaring inflation to hit UK economy harder than other nations”

Jun 30, 2022 | Economy, Inflation

Sorry, really don’t get this, Mr. Bailey. You’re saying that the ‘drivers’ of inflation are energy prices, the fact that the price cap is being removed and that stuff impacted by Covid and Ukraine is going up in price. So how does another big increase in interest rates help us? It’s presumably designed to ensure that it will make it even more difficult for us to afford what is already so expensive that we can’t afford it. Just plonking up interest rates is no longer the blunt tool answer, if it ever was. It’s those from the middle down who are or will feel the effects of all this, and, sorry if this offends, but a little redistribution is what is needed. I know, let’s call it Levelling Up!

Read more here