Summary
[The Bank of England warns that monetary policy will need to be tightened due to soaring inflation]Bank of England officials expect the inflation rate to exceed 4% later this year, and officials believe that it is necessary to take some “moderate tightening measures in due course” “To control price increases. Bank of England member Sanders voted for the stimulus plan to end as soon as possible. After the outbreak of the epidemic, inflation has soared, making people more concerned about the prospects of tightening policies by central banks around the world, although most people insist that the inflation spike is temporary. Although the Bank of England thinks so too, its assessment of the peak has been significantly higher than the 3% previously predicted in May. The Bank of England’s position remains in line with the shift in global hawks. Earlier, the Bank of New Zealand said that it might even raise interest rates; Federal Reserve Vice Chairman Clarida also said that it will begin to reduce debt later this year.
Bank of England officials expect the inflation rate to exceed 4% later this year, and officials believe that it is necessary to take some “moderate austerity measures” at the appropriate time to control price increases. Bank of England member Sanders voted for the stimulus plan to end as soon as possible. After the outbreak of the epidemic, inflation has soared, making people more concerned about the prospects of tightening policies by central banks around the world, although most people insist that the inflation spike is temporary. Although the Bank of England thinks so too, its assessment of the peak has been significantly higher than the 3% previously predicted in May. The Bank of England’s position remains in line with the shift in global hawks. Earlier, the Bank of New Zealand said it might even raise interest rates;MidlandVice Chairman Clarida also said that he would start to reduce debt later this year.
(Source: Zhitong Finance Network)
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