BUSINESS: Bank of England urged making plans to curb inflation; Burberry Sales Return to Pre-Pandemic Levels; New car sales in the EU are increasing
- The House of Lords committee says the bank needs to be clearer on QE and inflation
- Sales for high-end fashion brand Burberry have returned to pre-pandemic levels
Earlier this week, new figures showed the UK’s inflation rate rose 2.5 percent in the year through June.
People’s money savings are quickly lost, and many are paying higher prices for everything from fuel and clothing to restaurants and used cars.
Today the House of Lords Economic Committee said the Bank of England needs to provide a better rationale for believing the surge is temporary.
The committee also said the bank has so far failed to justify its flagship quantitative easing policy.