Inflation will be here "for years," says ex-Haldane. BOE's

Inflation could exceed the 10% target and last for years," warned former Bank of England (BOE) Chief Economist Andy Haldane in a LBC interview on Monday.

May 09, 2022 - 05:55 PM 254 views

Inflation will be here "for years," says ex-Haldane. BOE's

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© Inflation will be here "for years," says ex-Haldane. BOE's

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Inflation could exceed the 10% target and last for years," warned former Bank of England (BOE) Chief Economist Andy Haldane in a LBC interview on Monday.

Key Comments

Things have gone through my worst predictions.

I guess it’s probably going to stay for the entire duration of the year and for the next year or even beyond that.

As of now, we perhaps should not talk about the increase in interest rates.

We have a whole new generation of mortgage holders who haven’t seen a hike in interest rates. These effects not only in financial terms, but also physiologically too, It is going to be a huge shock for the system.

He made his remarks and the UK businesses are called out for an immediate emergency budget to combat rising prices, including the repeal of the latest insurance hike.

The Market Response

When last seen, the GBP/USD currency pair traded at 1.2278, down by 0.77% in a day.

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