Liz Truss stiffened the Bank of England’s resolve on inflation
Spectator (UK)MAR 21 2022
Liz Truss's tough new standards and criticisms have forced the MPC to act to tackle the spiraling economy. It's a positive indicator that the Conservative politician who will likely become the next leader of the country has the common sense and influence to make key institutions like the BOE more decisive and effective.
This sixth interest rate rise in a row is not designed to cool an overheating economy, but to keep the BOE's policy in step with senior Conservatives' thinking. This increase is only going to add economic pain to the poorest in society while Liz Truss turns the current chaos of the UK economy into an electioneering weapon.