BBCNEWS BBC July 1, 2024
where they are, let's keep them high to show financial markets that we are serious about fighting inflation and wait until it comes down before we loosen. of course the criticism here is that, and the bank's own analysis shows that, that it takes 1.5 years for the full effect of interest rate increases to ripple through the economy, so we might well be in a situation where we have kept rates very high for quite a while and that is really pummelling the economy, we are getting low or even negative growth and inflation is even below target. so it's understandable why the bank of englan...
Source: archive.org