Economics
Bank of England and Sunak Set to Step Up Fight Against Inflation
- Treasury signals backing for bigger interest rate hikes
- Boris Johnson warns of a more difficult period to come
This article is for subscribers only.
Britain’s policy makers are hardening their attitude toward inflation, preparing to deliver a tough dose of medicine at a time when a cost-of-living crisis is weighing down growth and consumers.
Prime Minister Boris Johnson’s government along with the Bank of England this week signaled a readiness to raise interest rates at an unprecedented pace to rein in prices, which are on track to leap more than 11% this year.