UK Politics
General Discussion for politics in the UK.
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!ukpolitics@lemm.ee appears to have vanished! We can still see cached content from this link, but goodbye I guess! :'(
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An answer from my wife who works in UK finance and spent the better part of the day dealing with this decision:
_The short answer is, this is still the best tool they have to deal with inflation, but it's a blunt tool.
A lot of the inflation is driven by external factors, but part of what they're trying to do, it prevent an inflation spiral where higher energy and food prices feed into a higher cost of other goods... labour... Etc.
Q: Will it work?
Her A: At this point they are very late [as others have said here] and increasingly looks like the only way this works is if they hike rates to a level that forces a recession [yay /s]._