The reasons are hardly comforting, pointing to the weakness of a battered economy in the face of this latest crisis
• Business live – latest updates
• Bank warns ‘higher inflation unavoidable’ after leaving interest rates on hold
The message to the UK’s crisis-weary households from the Bank of England is: brace yourself for Trumpflation – and the higher interest rates it may yet take to rein it in.
Reading the Bank’s quarterly monetary policy report, it is not difficult to understand the fury Rachel Reeves expressed while in Washington this month at the “folly” of the US president’s war on Iran – the impact is expected to hit the UK hard.
Continue reading…The reasons are hardly comforting, pointing to the weakness of a battered economy in the face of this latest crisis• Business live – latest updates• Bank warns ‘higher inflation unavoidable’ after leaving interest rates on holdThe message to the UK’s crisis-weary households from the Bank of England is: brace yourself for Trumpflation – and the higher interest rates it may yet take to rein it in.Reading the Bank’s quarterly monetary policy report, it is not difficult to understand the fury Rachel Reeves expressed while in Washington this month at the “folly” of the US president’s war on Iran – the impact is expected to hit the UK hard. Continue reading…