Move brings borrowing costs to highest level since April 2008 as Bank intensifies efforts to control inflation

Sunak will be feeling the pressure from this if inflation doesn’t actually come down.

  • Haily@kbin.social
    2·
    1 year ago

    @snacks

    @noodle Technically he could take away the BOA’s independence if he truly wanted to, I believe Liz Truss threatened to do exactly that when they were fighting her tax plans, but the markets probably wouldn’t like it if he did. It’s weird to think that not so very long ago, politicians having complete control over interest rates was entirely normal.