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Podcast: Beyond Currency
Episode: 16 December 2022 - MPC still wants to beat inflation
Description: The Bank of England raised short-term interest rates by fifty-basis-points yesterday, bringing the base lending rate to 3.50%. From the votes cast, it is clear that there is a diverse range of views among committee members.
Catherine Mann sees inflation as the most significant threat to the financial stability of the economy and voted for a seventy-five-basis point increase. Silvana Tenreyro and the newest member of the MPC, Swati Dhingra both saw a recession being made worse by higher interest rates and voted to leave rates unchanged.
Analysts believe that it is healthy to have a variety of views on the...