Former Bank of EnglandgovernorMervyn King has launched an attack on central banks, suggesting they have a shared responsibility for the cost of living crisis.Lord King says financial institutions have fuelled a rise in inflation by printing hundreds of billions of pounds and dollars during the Covid pandemic.He also warned Britons must brace themselves for a “very unpleasant period” and believes considerable interest rate hikes are now needed to prevent a re-run of the 1970s.Click here to sign up to our newsletters.
He also warned Britons must brace themselves for a “very unpleasant period” and believes considerable interest rate hikes are now needed to prevent a re-run of the 1970s.
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