Sun. Nov 28th, 2021


In outlining the many factors now being considered as to why the Bank of England’s Monetary Policy Committee should or should not raise interest rates at its next meeting, your article “Bailey warns of ‘bilateral’ risks for inflation forecasts” (Report, 22 November) confirms that the BoE and MPC have mastered the art of paralysis through analysis.

There was a time when those in charge simply raised or lowered rates – no pre-move talks, reasonings, announcements, endless questions about why they should or should not act, just a simple act to reduce or increase base rates .

Maybe we should go back to those days – even if it makes an industry irrelevant dedicated to guessing what central banks and their various committees say.

Martin Hewes
Hewes & Associates
Haslemere, Surrey, United Kingdom



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