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Have the Bank of England just made the cost of living crisis worse ?

Originally posted on Strategus:
The BoE is currently predicting that on the back of soaring energy costs this winter inflation will peak at 13.3%. That would be the highest level for 42 years and as a response to that, last week the BoE increased interest rates from 1.25% to 1.75%. The doctrine of monetary policy…

Thousands march in London over cost of living crisis

Demonstration organised by TUC calls on government to make ‘better deal’ for people struggling to cope with soaring inflation

Rising prices in Great Britain and help from the government

The British Government announced Thursday 3 February that the energy regulator’s new price cap – the maximum amount suppliers can charge customers for each unit of energy will add hundreds of pounds onto the annual bill for 22 million homes.