The Bank of England has a delicate balancing act, it doesn’t want to cut interest rates until it is sure inflation is under control but then it knows that the longer they stay high the worse that is for the economy overall. Luckily for it, the Bank of England’s remit is to bring inflation down to around 2%, a simple one off target.
Why the Bank is independent
Why the Bank is independent
Why the Bank is independent
The Bank of England has a delicate balancing act, it doesn’t want to cut interest rates until it is sure inflation is under control but then it knows that the longer they stay high the worse that is for the economy overall. Luckily for it, the Bank of England’s remit is to bring inflation down to around 2%, a simple one off target.