Inflation & Prices
El-Erian Says Bank of England Needs Government Help on Inflation
- Former bond fund manager says rate rises won’t be enough
- Says BOE has ‘no choice’ but to raise rates again today
Mohamed Aly El-Erian.
Photographer: Samuel Corum/BloombergThis article is for subscribers only.
Mohamed El-Erian said the Bank of England needs help from the UK government and others in bringing inflation down from double digits.
The former chief executive officer at the bond fund Pimco told BBC Radio 4 that the central bank has “no choice” but to raise interest rates again Thursday and perhaps again in June.