Sat. May 18th, 2024
Kwasi Kwarteng critical of Bank of England: 'Something's gone wrong'

The business secretary,Kwasi Kwarteng, has criticised the Bank of England’s control of inflation, saying 'clearly something's gone wrong' at the institution, as prices are predicted to rise by 13% and the UK is forecast to suffer an economicdownturn lasting more than a year.

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As a key supporter of the foreign secretary,Liz Truss, Kwarteng’s comments suggest the Bank’s independent mandate to keep inflation at 2% may be re-examined if she should become the next prime minister

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