The Bank of England has failed. It must urgently lower interest rates

The Standard has published an opinion piece by Ben Ramanauskas, a research fellow at Oxford University and a former government adviser, in which he criticizes the Bank of England’s Monetary Policy Committee (MPC) for its handling of inflation and accuses it of failing the British people.

The MPC is accused of responding too late to rising inflation, causing ordinary people to bear the brunt of increased living costs. The author contends that the MPC’s restrictive monetary policy is damaging the economy, and the decision to keep interest rates high could potentially lead the UK into a recession.

The article calls on the MPC to lower interest rates to prevent further harm to the economy and accuses the committee of repeatedly failing in its mandate.

The article can be read here.

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