Cost of living: Bank of England chief hits back at criticism it has 'stoked inflation'

Summary by Ground News

Britain 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

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Reuters

BoE's COVID policy not to blame for inflation, Bailey says

Governor Andrew Bailey on Monday pushed back against his critics who blame the Bank of England for allowing inflation to accelerate to a 40-year high, saying the facts do not support this.

5 months ago·United Kingdom

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The Guardian

Bank of England not to blame for soaring inflation, says governor

Andrew Bailey defends response to Covid pandemic and indicates Bank will not take aggressive approach to raising interest rates

5 months ago·London, United Kingdom

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The Independent

Governor Bailey says Bank of England not to blame for runaway inflation

The Bank’s approach to Covid was criticised by its former governor last week.

5 months ago·London, United Kingdom

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Sky News

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 Kingdom

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