BoE will ‘act forcefully’ to stem inflation, says Britain’s Sunak

LONDON, June 22 — The Bank of England will “act forcefully” to combat rising prices, British finance minister Rishi Sunak said today, as data showed UK inflation had hit a new 40-year high of 9.1 per cent in May.“Firstly, the Bank of England will act forcefully to combat inflation,” he said. “Secondly, the government will be responsible with borrowing and debt so we don’t make the situation worse and drive up people’s mortgage rates any more than they’re going to go up.

Sunak echoed language used by the Bank of England last week after it raised interest rates — although the central bank’s line was more conditional, saying it would “if necessary act forcefully”.

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Malaysia's economy doing well - World Bank economistOptimism stems from pent-up demand, says Apurva Sanghi.
Source: malaysiakini - 🏆 20. / 51 Read more »

Attention given to inflation rate in drafting Budget 2023, says deputy finance ministerKUALA LUMPUR, June 21 — The government is taking the country’s inflation rate seriously and working to find the best solution, including formulating a new strategy through... Harga naik. Kejayaan keluarga
Source: malaymail - 🏆 1. / 86 Read more »

Spain to cut electricity tax to ease inflation painMADRID: Spain will cut the value-added tax on electricity by half to shield consumers from soaring inflation fuelled by Russia&039;s invasion of Ukraine, ...
Source: theSundaily - 🏆 25. / 51 Read more »

Will inflation get the better of music streaming?LONDON, June 21 — In times of need, no potential cost saving is too small. And with inflation running high in the UK, Britons are cutting back on some leisure-related spending....
Source: malaymail - 🏆 1. / 86 Read more »