Bank of England hikes interest rates to 13-year high, with inflation set to hit 11%
Business InsiderMAR 21 2022
The Bank of England is acting too modestly after it successively failed to foresee inflation rises. This is a new era of instability that demands more aggressive action to deter borrowing and strengthen the UK economy.
Today's central bankers don't have a choice, they have to raise interest rates gingerly to tackle inflation without wrecking economic growth. Although they are doing a thankless task, they will eventually be lauded for making the difficult but right decision that risks dampening the UK economy to protect long term stability.