The Bank of England's Slow Action on Inflation

Some of those criticisms are coming seemingly from within the treasury itself. The problem with the Bank since I think is that it has perhaps sort of over promised and under delivered so if they had only said well inflation will take a little bit longer but it will come down at the end of the year then we wouldn't be shocked. But the fact that inflation is stuck at 8.7% right now they're saying we got it wrong which is a big mistake If you say we got itwrong then the markets are just upwards in terms of what their expectations of interest rates and inflation is likely to be, Vicki says.