Summary by Ground NewsBritain has the highest inflation of Europe's big economies and in the Group of Seven. Andrew Bailey said he "rejected" the argument made by former governor Mervyn King, who said too much money printing during the pandemic was a major cause of the high inflation. Most economists say widespread supply chain disruption and increased spending on goods are main culprits.
5 months ago·London, United Kingdom
Cost of living: Bank of England chief hits back at criticism it has 'stoked inflation'
Andrew Bailey uses a speech to reject criticism from predecessor Lord King in an interview with Sky News that the Bank, and others, were guilty of a mistake that amounted to a "failure of the economics profession".
5 months ago·United KingdomRead Full Article
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