The Bank of England has failed to achieve the 2% inflation rate and its forecasting has been ill-judged. However, its stance on interest rates is entirely justified given the parlous state of the UK’s domestic economy

Dolphin, Tony (2011) The Bank of England has failed to achieve the 2% inflation rate and its forecasting has been ill-judged. However, its stance on interest rates is entirely justified given the parlous state of the UK’s domestic economy. [Online resource]

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With inflation exceeding the official Bank of England target for the eighteenth month in a row, Tony Dolphin considers the reasons for the Bank’s failure and examines the implications for interest rates.