Bank of England boss is accused by angry Tories of being ‘asleep on the job’ while inflation soared
- Bank’s top economist Huw Pill gave a clear signal of a large interest rate rise
- Tory MPs said dramatic increases were needed only after the Bank let inflation ‘bolt from the stable’
- Interest rates are currently set well below the rates of up to 14 per cent seen in the 1980s
Bank of England Governor Andrew Bailey has been ‘asleep on the job’ by allowing inflation to soar over the past year, MPs claimed yesterday.
It came as the Bank’s top economist Huw Pill gave a clear signal of a large interest rate rise when its Monetary Policy Committee (MPC) next meets in November.
His comments appeared to rule out an emergency…