Want to create an interactive transcript for this episode?
Podcast: Beyond Currency
Episode: 21 June 2022 - Central bank facing tough decision after inflation mistake
Description: The Bank of England has admitted that it got its call on inflation woefully wrong at the turn of the year and should have reacted faster in tightening monetary policy as the country began to emerge from the Pandemic.
It was natural to assume that a spike in inflation would happen as demand hugely outstripped supply, but it was expected that this would level out as supply chains became untangled.
Catherine Mann, one of the independent members of the Monetary Policy Committee, spoke yesterday of her fear that inflation is becoming embedded in the economy as rising inflation is causing...