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Podcast: Beyond Currency
Episode: 5 April 2022 - New loan guarantee scheme under investigation
Description: Bank of England Deputy Governor Jon Cunliffe was the only member of the MPC who voted against a hike in interest rates at the latest meeting.
Yesterday he spoke of his doubts that the Bank will have to take sustained action to curb public expectations that high inflation will become ingrained since, so far, those concerns have failed to materialize.
He acknowledged that inflation would need to be tackled, but does not see a comparison with the 1970s, when an energy shock saw inflation rise and stay elevated.
The conflict in Ukraine will lead to a substantial downturn in economic...