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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…

Economic pain for all or for the poorer majority

We can not allow the capitalist governments and central banks in Europe to follow the US Fed’s lead in willing to throw the economy into a recession, destroying millions of more jobs.