Emeritus Prof. Christopher MayChrisMayLA6
Jun 15, 2026, 6:10 AMHere is the problem with the Bank of England:
as energy prices continue to remain elevated, the Monetary Policy Committee focusses on the inflationary pressure, and as it only has one policy lever looks to raise interest rates (although for now they may stay at the level they are);
however, squeezing inflation out of the system via recession (the BoE's underlying logic) compounds the difficulty industrial sectors have with the energy price... its nuts!
