1 year ago
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James Cleverly stumbles in BBC interview when pressed ahead of midday interest rate announcement
Good morning. At noon the Bank of England is expected to raise interest rates for the 13th time in a row. Economists are forecasting a rise of at least a quarter of one percent, from 4.5% to 4.75%, but some of them believe there is a chance of a half-point increase, taking the rate to 5%, its highest level since April 2008.
Graeme Wearden is covering the build-up to this decision in detail on his business live blog.
AR: The things you mentioned are not part of core inflation. If you look at core inflation, it’s very clear … that the UK has got a bigger problem with inflation than other countries. And if you strip out those things that you mentioned, which are volatile, like food and energy prices, core inflation in this country is different to other countries. It’s going up. I just want to know what the prime minister’s plan is to do about it. Because influencing apprenticeships isn’t really going to affect inflation in the short term.
JC: Look, we recognise that you have to deal with things in the short, medium and long term.
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