Bank of England governor Andrew Bailey accused of losing control of inflation in a damning new report
The Bank of England's handling of high inflation has been slammed in a new report from financial experts.The Bank of England has been accused of "losing control of inflation" as a report says Brits will be facing a £2,300 hit to household pockets in the next year.
The report was compiled with Retail Economics, whose CEO Richard Lim said: 'The squeeze on finances has become a war of attrition for many households.Governor of the Bank of England Andrew Bailey stands accused of letting inflation run riot to ruin Brits' finances.'While peak inflation may have passed, households still have around ten months of pain to come where cutting back spending will intensify for many.
The bank said its models suggested a sharp leap in mortgage costs for many households across the country as the impact of higher interest rates feed through.
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