Wikipedia economist Rachel Reeves has just told pool cameras that interest rate rises, which began in December 2021, are somehow the direct consequence of Liz Truss’s mini-Budget. A mini-Budget produced a full ten months later.

“Liz Truss’s mini-budget last year set in motion the economic turmoil and the increases in interest rates that we’ve experienced here in the UK.”

Truss, when not busy time travelling back to 2021, is also apparently responsible for the US economy as well. Today the US Federal Reserve held their interest rate range at 5.25%-5.5%. Guido will save Rachel the Googling and tell her 5.5 is a bigger number than 5.25. Asked about this on camera, Reeves simply ignored the question and talked about growth. A topic which has landed her in hot water before…

The Monetary Policy Committee of the Bank of England has voted 6-3 to hold interest rates at 5.25%. They will remain at their highest level since 2008 after 14 consecutive hikes. As expected – the market had this outcome at 93%…

The Institute of Economic Affairs’ own Shadow Monetary Policy Committee is warning of an undershoot on inflation and wants rates cut to 5% – they say that keeping the ratchet up on rates will increase the risk of deflation and an economic slowdown. A crash in mortgage lending and spiralling insolvencies do not a healthy economy make…