Surveillance: BOE Steps Up Inflation Fight
Bloomberg Surveillance
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The Failure of the Central Bank to Rebuild Credibility
It takes a long time to rebuild central bank credibility once it's been destroyed, says Terri Wiseman. In those emerging markets that have tried to tackle the inflation story head on and early, you have seen a lot of success, she adds. The Bank of England had to raise by 50 basis points instead of 25 because they made a mistake in thinking inflation would be at 8.3 or 8.2%, but was closer to 9%.
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