Bank of England and government are ‘pulling in different directions’ over interest rates

The i says The Bank of England (BoE) and the Government are “pulling in different directions” over the best steps to take to bring inflation under control and avoid a recession, the central bank’s former deputy governor has warned.

Sir John Gieve, former deputy governor at the BoE and a member of its rate-setting Monetary Policy Committee (MPC) from 2006 to 2009, said that the Government’s efforts to grow the economy were working in opposition to the Bank’s attempts to tame inflation.

He also predicted that the UK may already be in a recession, which could result in there being “very little growth in the next year or so”.

https://inews.co.uk/news/bank-of-england-government-different-directions-interest-rates-1871635