The Bank of England's Battle With Inflation

Miles and Farouk join us to talk about the Bank of England's battle with inflation. Miles: The increase in rates is turning out to be something of a mixed blessing for UK mortgage lenders. In May, the consumer price index was at the same level as it was in April of 8.7%. And this is all in spite of 13 consecutive interest rate rises by theBank of England since 2021. Mervyn King: We expect mortgage arrears to go up, but it's important to remember that mortgage Arrears are currently lows.