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Good morning. BOE under fire, everybody’s blaming Russia, Draghi coalition on the brink, and ECB to be tested in a matter of days. Here’s what people are talking about.
The Bank of England’s struggle to restrain the fastest inflation in four decades drew fire from lawmakers seeking to become the UK’s next prime minister. Foreign Secretary Liz Truss hinted she may change the central bank’s mandate if she wins power. In Sunday’s televised debate, Truss said the UK is facing “unprecedented economic times” and that the “business as usual economic strategy” isn’t working. The next government should look at other economies that had been successful in controlling inflation, she said, citing the Bank of Japan. The BOE has been dragged into the leadership debate as sky-high inflation drives a cost-of-living crisis.