Chancellor comfortable with recession if it brings down inflation
video Jeremy Hunt has told Sky News he is comfortable with Britain being plunged into recession if that's what it takes to bring down inflation. The chancellor said that he would fully support the Bank of England raising interest rates higher, potentially towards 5.5%, as it battled higher-than-expected prices. Asked by Sky News whether he was "comfortable with the Bank of England doing whatever it takes to bring down inflation, even if that potentially would precipitate a recession", he said: "Yes, because in the end, inflation is a source of instability. "And if we want to have prosperity, to grow the economy, to ... (full story)
- Comment #1
- May 26, 2023 10:35am May 26, 2023 10:35am
- | Joined Jul 2019 | Status: Member | 1421 Comments
- Comment #2
- May 28, 2023 2:16pm May 28, 2023 2:16pm
- Joined Jun 2019 | Status: Member | 3294 Comments
- Older Stories
AUD/USD prints the first daily gain in four as it rebounds from the yearly low to 0.6515 heading into Fridayís European session. In doing so, the Aussie pair pays little heed to ...
Germany has entered a recession, revised official figures have revealed, after high prices took a bigger toll on the countryís economy than originally estimated. Data from the ...
Retail sales volumes are estimated to have risen by 0.5% in April 2023, following a fall of 1.2% in March 2023 (revised from a fall of 0.9%). Sales volumes rose by 0.8% in the ...
- Newer Stories
US President Joe Biden and top Republican Kevin McCarthy appear to be inching closer to an agreement over the US debt ceiling - even as Congress breaks up for a holiday weekend. ...
The dollar continues well bid and is knocking on the door of some of the key technical levels we identified in yesterday's update. In recent client meetings, we have been making ...
tweet at 4:26am: ECBís Lane: -Inflation will return to target in a timely manner -Food inflation will reverse later this year -Real wage correction has to be a gradual process.How quickly will inflation return to target? slides