farmerm
Member
- Location
- Shropshire
I am very skeptical that the old BofE pulling the interest rate lever to control inflation will actually make a jot of difference in today world. They are reluctant in pulling the lever for fear all that may happen is the curtain drops exposing them to be powerless in controlling todays inflation. What would putting 1% on the base rate really do to borrowers spending on food and fuel and other such "essentials" which are driving the inflation rate? Billions of pounds of quantitative easing should have created inflation in recent years yet it didn't. I think the Bank of China probably have more control of our economy that the Bank of England now.