Bank of England warns: The impact of this crisis is worse for the UK than the 70s
The pound has been rallying after the Bank of England’s latest rate hike decision and Andrew Bailey’s words.
If we look at how rising interest rates have behaved in its historical series. We remember yesterday the highest interest rate hike was carried out by the central bank in 33 years. What the Bank of England is saying is that we’re at a time where there hasn’t been much economic impact since 1970, even worse.
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#josevizner
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