Bank of England fights to save its reputation - and the economy
The TelegraphTories target Bank Why the sudden hostility from the Tories? Anger at the cost of living crisis is intense – YouGov surveys indicate voters are almost twice as likely to back Sir Keir Starmer’s Labour than the Tories when it comes to managing the issue – but the Government’s record on helping ease the crisis is mixed, to put it charitably. “It smacks of politicking at a time when the Government is behind in the polls and has an economic crisis to deal with,” says Kallum Pickering, economist at Berenberg Bank. “I don’t remember any of these politicians criticising the Bank of England for buying lots of bonds and cutting interest rates during the crisis which allowed the Government to very aggressively support the economy.” The MPC has made its excuses. “The Bank could not have prevented the war, it could not have prevented China from pursuing the zero Covid policy, it could not have prevented President Biden from handing out excessively large stimulus cheques - those are the reasons why we have so much inflation, not the Bank pursuing QE for an extra four to five months,” says Pickering.
History of this topic
Bank of England HOLDS interest rates despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation
Daily Mail
Bank of England could be ‘more aggressive’ with interest rate cuts, says governor
The Independent
Banking sector turmoil puts pressure on Bank of England over interest rates
The Independent
Bank of England policy makers rebel as it raises interest rates to 14-year high
The Telegraph
How the Bank of England is scrambling to stabilise markets
The Telegraph
Bank of England signals ‘significant’ response to pound turmoil
The Telegraph
Bank of England should not be made to go green, warns Mervyn King
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