Andrew Bailey can be forgiven for gnashing his teeth during Wednesday’s autumn statement, as Jeremy Hunt repeatedly claimed credit for the work done by the Bank of England governor and his colleagues.
The Monetary Policy Committee hiked interest rates 14 consecutive times, taking them to 5.25 per cent – and also taking a lot of flak in the process. Now that inflation has fallen by more than half (to 4.6 per cent at the last measurement), the chancellor and his boss Rishi Sunak have been claiming the credit at every opportunity.
