Pressure will be on the @bankofengland.bsky.social tomorrow to stop cutting rates in the face of price rises. But it should learn the right lessons from the Covid/Ukraine inflation - tightening monetary policy is the wrong appraoch to supply-side shocks like this.
www.theguardian.com/commentisfre...
We’ve been here before with Covid and Ukraine. Making borrowing more expensive won’t work – only price controls, caps and public ownership can do that, says Josh Ryan-Collins, a professor at UCL
