Will more interest rate rises trigger a recession – and is it worth it to bring down inflation? 🔎 Analysis by CallumCMason
But there is no consensus that triggering a recession is an inevitability to bring down inflation.
Some think that one can still be avoided. Ian McCafferty, an ex-member of the Bank of England’s monetary policy committee , which determines the base rate, toldthat monetary policy worked by adjusting the level of demand to provide the spare capacity needed to reduce inflationary pressures and that “ideally this can be achieved by allowing the economy to grow below its potential, without causing a recession”.
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