The Bank of England Arrives at a ‘Crunch Point’
Leaders with Francine Lacqua
Bloomberg
4.6 • 64 Ratings
🗓️ 10 August 2023
⏱️ 27 minutes
🧾️ Download transcript
Summary
Francine Lacqua speaks to a panel of Bloomberg experts including Bloomberg Opinion columnist Marcus Ashworth, reporter Tom Rees, and Ana Andrade of Bloomberg Economics. They discuss the central bank’s strategy and what moves the monetary policy committee might make next.
“We’re at a real crunch point,” Rees says. The choice between quick or slow action is a tough one, given the tight labor market, mortgage and rent strains and higher living costs.
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Transcript
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| 0:54.9 | now on Apple, Spotify, or anywhere you listen. It's the last mile, which obviously |
| 1:00.3 | where policy is really doing the work, and we're going to have to see policy stay restrictive. |
| 1:05.0 | Now, the question that is for how long. Right. That's the question. Now, I'm afraid the |
| 1:09.3 | answer is because we don't know at the moment. That's why we say for sufficiently long to have its effect, because it's too soon to judge |
| 1:14.6 | really how long that's going to take. |
| 1:20.6 | Welcome to In the City, Bloomberg's podcast connecting you to the conversations at the heart of the |
| 1:28.8 | city of London. I'm Francine Lackwa. And this week, a deep dive into the thinking at the Bank of |
| 1:34.5 | England. Well, at least we try. You just heard Governor Andrew Bailey there telling me after |
| 1:39.2 | last week's rate decision, it is too soon for the UK to declare a victory in the battle against |
| 1:44.1 | inflation. We're in the battle against inflation. |
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