Some economists are questioning whether this is right approach, while others say that tacking inflation first is essential. What do you think?
Tuesday, 8 November 2022
No 244: UK Interest Rate Rise Explained in Less Than 3 Minutes
AS MENTIONED in post 241, last week the Bank of England put up its Base Rate of Interest by 0.75% to 3%, the highest since 2007. As this video from Sky News explained, the aim is to reduce Aggregate Demand and therefore inflation, though doing so will also contribute to a recession that could last until 2024.
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