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The Guardian - UK
The Guardian - UK
Politics
Kiran Stacey and Heather Stewart

Rishi Sunak forced to acknowledge control of inflation lies with Bank of England

​​Rishi Sunak Bank of England Inflation Jeremy Hunt Amol Rajan Andrew Bailey David Gauke James Cleverly
Rishi Sunak could bring the general election forward – before the full pain for rate rises is felt.
Rishi Sunak could bring the general election forward – before the full pain for rate rises is felt. Photograph: Victoria Jones/PA

If the bosses of some of Britain’s biggest banks were nervous as they entered Downing Street for a crunch meeting on the mortgage crisis on Friday morning, they were quickly reassured.

Jeremy Hunt hosted six executives and one senior regulator after a week of economic bad news, which saw inflation remain steady at 8.7%, the Bank of England raise the base rate to 5% and lenders continue to increase the costs of mortgage deals.

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