The Negative Effects of Higher Interest Rates on the Economy

As inflation continues to outstrip wage growth for all but the top ten per cent of earners, interest rates look set to keep rising at least until February 2024. The political economist William Davies joins Tom to consider the reasons for high inflation and the Bank of England’s response, what government policies could alleviate the crisis and whether next year’s general election will lead to any significant change.

Find further reading on the episode page: lrb.me/inflationfixation

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