Bank deputy governor says MPC can do nothing about inflation spike

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Bank deputy governor says MPC can do nothing about inflation spike

27th February 2008, 01:01:AM

The Bank of England admitted yesterday that there was "nothing the Monetary Policy Committee can do" about higher inflation. Rachel Lomax, a Deputy Governor of the Bank, echoed previous warnings from Mervyn King, the Governor, and other colleagues on the MPC that the CPI may well exceed the 3 per cent figure that would trigger a letter of explanation from Mr King to the Chancellor, Alistair Darling.

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Tags: bank, business

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Bank deputy governor says MPC can do nothing about inflation spike

Bank deputy governor says MPC can do nothing about inflation spike

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