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Podcast: Beyond Currency
Episode: 19 June 2023 - Will higher rates cause housing market correction?
Description: The Bank of England’s mandate is to promote growth in the United Kingdom economy, while keeping inflation under the Government’s target.
While looking like it has spectacularly failed on both counts since the Pandemic, neither fiscal policy, nor the global economy have been on their side.
Andrew Bailey, the Bank’s Governor has been accused of being too cautious in delivering tighter monetary policy even though they were the first Central Bank among G7 nations to begin to hike rates.
Other Banks, notably both the Federal Reserve and European Central Bank started hiking rates significantly after the Bank of Eng...