Breakingviews - Sick Britain no longer needs Dr Bailey’s medicine

Bank of England hawks can point to key indicators that are still running hot, such as inflation, economic output and. That’s why economists expect them to ram through yet another 50-basis point hike this week, bringing the base rate to 4%. Yet those gauges are backward-looking and will cool down this year as a recession and past rate hikes hit consumers and firms.

Take the economy. The UK has been particularly hammered by the high cost of energy imports and rising hikes, which have battered its outsized consumer and housing sectors. The government’s austere fiscal policy, exacerbated by the fallout from Liz Truss’ catastrophic premiership, has further hurt growth.out an unexpected 0.1% month-on-month rise in November, rather than the 0.2% decline predicted by a Reuters poll of economists, thanks to World Cup-induced drinking and video-game sales.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sick Britain no longer needs Dr Bailey’s medicineThe Bank of England is likely to raise its key interest rate to 4% on Thursday. That would be a step too far. The UK is nearing a recession, consumers are suffering and inflation is abating. The higher Governor Andrew Bailey hikes rates, the more drastic cuts will likely follow.
Source: Breakingviews - 🏆 470. / 51 Read more »