Bank of England ‘duty bound’ to trigger recession to curb inflation.
"The US is going through a period of high inflation that monetary policy will arrest. Euro area countries don’t really have much inflation other than the spike in energy and food prices caused by the Ukraine war.
"The UK, on the other hand, has #Brexit, which is going to restrict the supply of labour over the longer term, and trade restrictions that will keep prices higher than they would otherwise be"
https://www.theguardian.com/business/2022/may/01/bank-of-england-duty-bound-to-trigger-recession-to-curb-inflation?CMP=Share_AndroidApp_Other
@AngharadHafod The Guardian is such a poor paper! The EU average Inflation rate is currently 7.8% & the UK's is 7.0%!!!
@AngharadHafod “ The US is going through a period of high inflation that monetary policy will arrest. Euro area countries don’t really have much inflation other than the spike in energy and food prices caused by the Ukraine war.” sounds like they are talking current situation, as well as future scenarios.
No, it was a quote of someone else, I agree…..but they offered up no other possibility, and didn’t make readers at all aware that this view isn’t currently the case….very misleading!
@AngharadHafod I am playing Devils advocate here, but I do think it’s a very misleading article! 😉
@TheBeastOfBaglan it's not comparing current inflation rates, it's talking about what the inflationary pressures are and what's to expect in the future. And the quote wasn't from the Guardian itself.