Connect with us

Hi, what are you looking for?

World News

Trust in Bank of England's abilities to control inflation slides

Price rises: The balance of people satisfied with the Bank of England's action on the cost of living crisis fell from -3% to -7% in August, according to its latest survey of attitudes to prices regard to inflation

Confidence in the Bank of England’s ability to control inflation hits record high

Confidence in the Bank of England’s ability to control inflation has fallen to a record low.

The balance of people satisfied with the Bank’s action on the cost of living crisis fell from -3% to -7% in August, according to its latest inflation attitudes survey.

Inflation remained stubbornly high last month.

Price rises: The balance of people satisfied with the Bank of England's action on the cost of living crisis fell from -3% to -7% in August, according to its latest survey of attitudes to prices regard to inflation

Price rises: The balance of people satisfied with the Bank of England’s action on the cost of living crisis fell from -3% to -7% in August, according to its latest survey of attitudes to prices regard to inflation

Although price inflation has fallen back from July’s 40-year high of 10.1% to 9.9%, it is still well above its target of 2%, the figures show.

Myron Jobson, senior personal finance analyst at Interactive Investor, said the results will “increase the pressure” within the Bank’s monetary policy committee, which is expected to raise rates again next week.

Since December 2021, the rate setting committee has made six consecutive interest rate hikes.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Health

It’s fun to be a student, especially if you’re motivated to achieve. However, it’s getting harder for students to focus in today’s busy society....

Business

When you apply for a personal loan, lenders first determine your credit score to know how credible and reliable you are. This means that...

Finance

Loans against property are a common option for people needing high-value cash. Given that its interest rates are almost 3% to 4% more than...

Business

Zion Market Research has released a new report that projects the Endotracheal Tube Securement Devices Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2018-2025. The year...