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The economy too much. To dicsuss this further im nowjoined by the Bank Of England 5 former head of international surveillance, katharine neiss. She is now the chief european economist for pgim fixed income. Good to have no surprise that Interest Rates are still rising. Do you think that this is it . ~ ,. ,. , is it . The banker very clear today that if inflation is it . The banker very clear today that if Inflation Remains is it . The banker very clear today that if Inflation Remains resilientl that if Inflation Remains resilient at higher levels, then they could see Interest Rates are going higher from here. That said, to me, the really big mess ....
Particularly in europe and the united states, and yet, still proving to be so sticky here? well, the uk is being proving to be so sticky here? well, the uk is being affected proving to be so sticky here? well, the uk is being affected on - proving to be so sticky here? in the uk is being affected on both sides. on one hand, we have got a very tight labour market similar to the united states. on the other hand, we are also seeing the ripple effects of higher energy prices as a result of russia pass invasion of ukraine impacting on european energy prices. so, the uk is really being affected by a double whammy, if you like, of those inflationary pressures, and that explains some of the more resilient and sticky inflation that we are seeing here. as we said, the rise in interest rates is a rather blunt tool. it is designed, bluntly, to make us poorer, so that we stop spending. so much of inflation is imported, coming in from overseas, like higher ....