For months, this blog has been calling for a rise in interest rates. The Consumer Price Index is now rising by 3.7 per cent, the Retail Price Index by 4.8 per cent, and the Tax and Price Index – the most comprehensive measure – by 5.2 per cent. Allister Heath makes the anti-inflationary case superbly in today’s City AM. As he says, “praying that all will be well is not an economic strategy”. Well worth reading in full.
Wednesday, 19 January 2011
Hannan: Is the Bank of England pursuing inflation as a deliberate policy?
Daniel Hannan writes