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It’s Rishi Sunak, not the Bank of England, who needs to act to get the UK’s economy firing again
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Economic commentators and investors all have their eyes on inflation, and the unexpected decision by the Bank of England to raise interest rates, for the first time in three years, to 0.25% – in spite of the disruption and uncertainty of Omicron. But behind the headlines and the focus on the Bank, the biggest macroeconomic questions facing the UK – which will determine whether families feel the pinch this Christmas and beyond – are all up to the chancellor.
Inflation has reached its highest level
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