Hello from London, where as one of our senior editors put it, a recession is fine as long as your pint is cheaper. Chancellor Jeremy Hunt told Sky News he’s comfortable with the Bank of England potentially triggering a recession in its fight against inflation, calling it “a source of instability.” Hawkish former BOE rate-setters warned that interest rates will need to soar as high as 6%, a level the bank has identified as painful for households and businesses. The BOE is to blame for failing to get inflation under control and the subsequent surge in government bond yields, Bloomberg Opinion’s Marcus Ashworth writes. ... (full story)