The Bank of England has increased interest rates today by 0.75%. It says that this is necessary to stamp out inflation.
As I have explained in The Mirror in recent months, that is complete nonsense.
This is very largely because, as the Bank of England has confirmed today, the 10% inflation we are now suffering is about as high as inflation will get. And, as the Bank is forecasting, inflation will tumble from mid-2023... as I have also forecast for some time.
