No other idea how to show my anger. BoE increases rates to drive down demand and thus inflation, but they miss the point that the inflation is driven by increased food and energy costs, and food is only increasing due to fuel increasing (even though wholesale value dropped). So their plan won't work, and if we get to a point, people can't afford to eat or heat their homes... the BoE will then complain they have to boost the economy because consumers' confidence in in the dirty... because people have no money.But it's Likely as rates go up, and we don't address the true issue (which requires government intervention) people will strike and demand higher pay as the cost of living crisis will get worse which drives inflation which drives rate increases.... and so on and so forth. The BoE should be pushing for government intervention to sort out the cause of the current economic issues.
Claim your business profile now and gain access to all features and respond to customer reviews.
The Bank of England (BoE) is the central bank of the United Kingdom. Founded in 1694, the Bank’s mission is to promote the good of the people of the UK.
