The OECD, that is, which thinks Britain, having engaged in austerity and watched growth stop, should now raise interest rates to combat inflation!!!
Inflation’s currently running at 4.5% in Britain, which is not exactly stratospheric.
Raising interest rates in this environment should kill off growth altogether.
It’s part of the same madness afflicting the ECB.
Confidence fairies and nonexistent inflationary expectations are far more important to idiot policymakers than economic growth, unemployment, or fixing what is a very weak banking system.
Gorilla says: “When you keep digging the same hole, you don’t notice what else is buried!”