The Bank of England is charged with maintaining the inflation rate at around 2%. Supposedly, taking difficult decisions to achieve this as the government cannot be trusted to administer this task.
With inflation nearly 3 times this benchmark and still rising. Interest rates are still stuck on 0.5% and no indication that they will rise in the near future. The man in charge gets a knighthood for falling asleep on the job .
Hate to think what he would have received if the B of E was successful in controlling inflation.
I'm no economist, but too little saving and too much spending got us into this mess. How do they think that increased spending will get us our of the sticky-stuff?
