Bank of England urged to act over severe inflation concerns

A warning for the central bank from the International Monetary Fund

Lauren Mason
clock • 1 min read
Inflation is predicted to hit 5.5% in the spring

Inflation is predicted to hit 5.5% in the spring

The International Monetary Fund (IMF) has warned the Bank of England (BoE) against having to face “inaction bias” ahead of stronger-than-expected inflation, urging the bank to begin raising rates before inflation reaches a projected 5.5% in the spring.

According to the IMF's annual review of the economy, the country's recovery from the coronavirus pandemic has been far stronger than expected, despite the fact the new Omicron variant will likely cause...

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