Why is Britain getting inflation so wrong?
The Briefing Room
00:00
The Bank of England's Forecasting Is Wrong
The Bank of England has consistently expected inflation to fall back quite fast towards their target, which is super sent and obviously we're very significantly above that at the moment. So they were unable or appears they were unable to forecast correctly, given the huge changes that we've seen in the global and domestic economy over the last few years. They have now said that they're going to have an external review of their models and how they work. And obviously we're all hoping they do that really quickly, because you know, times are running out,. We would have liked them to do it a little while ago.
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