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  • Chancellor comfortable with recession if it brings down inflation

    From news.sky.com

    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)

Of course Cxnt would be comfortable.....anyone with billions, millions in their pocket will not feel much pain. It's always the lower end of the society that take the stick and suffers, period

Nothing new - move on.

Freaking tory government, the incoming labour government ain't any better either. All in all, we are still fxked each direction!
IMHO the BoE is trapped. UK inflation is twice as high as it is in the US and also above levels in the eurozone and core still rising. Three main reasons Productivity Labor market and Brexit.
Could see 5.5% from BoE in coming months which will probably push UK into recession.
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Unfortunately cant disagree with you @NB -as BOE’s Chief Economist Huw Pill said: British people need to accept the country is poorer.
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  • Posted: May 26, 2023 3:00am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 2  /  Views: 770
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