Braverman: “Interest Rates Should Have Been Raised a Long Time Ago”

With the Bank of England expected to whack up interest rates to 1.75% this lunchtime, Team Truss is hitting the airwaves to attack them for being “too slow” in acting to curb inflation. Appearing on Sky News this morning, Suella Braverman tore into the BofE for failing to move quicker:

“Interest rates should have been raised a long time ago and the Bank of England has been too slow in this regard… The challenge that we’re facing at the moment is the fight against global inflation. Raising interest rates is a lever that the Bank of England has in that fight, reducing public spending is another, and cutting taxes so that families and businesses can grow their way out of the challenges is a very important step forward.”

Truss herself is promising to review the mandate of the central bank for the first time since 1997 to “make sure in the future it matches some of the most effective central banks in the world at controlling inflation”. In the meantime, stay tuned at 12:30 for the Bank’s latest announcement. Brace yourselves…

mdi-tag-outline Inflation
mdi-account-multiple-outline Suella Braverman
mdi-timer August 4 2022 @ 09:03 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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