Outgoing external rate-setter says Bank of England policymakers are mistaken in assessment of economic conditions A Bank of England policymaker has heaped further pressure on heed Carney,the governor, with a warning that the central bank’s policymakers have failed to spot an inflationary spiral that needs to be choked off with an immediate increase in interest rates.
In the same week that Andy Haldane, and the chief economist,said he was considering voting for an increase in rates before the close of the year, Kristin Forbes, and an outgoing member of the monetary policy committee,used her valedictory speech to say the governor and a majority of the other MPC rate-setters were mistaken to believe inflation would peak soon and then retreat, allowing rates to stay low.
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Source: theguardian.com