For the past six months, they’ve given us a spiel about inflation. But that was only Act 1 of the Merchants of Monetary Menace. And now it’s time for Act 2, with the same theatrics over the coming recession.
There won’t be a recession, we aren’t in one, it’ll be transitory, and then you known what happens next…
Former Monetary Policy Committee member Danny Blanchflower, in the role of Launcelot, reckons “The UK in all likelihood is already in recession,” and, “The right thing to do is to sit back and wait and watch as the global recession probably spreads.”
But, as Bloomberg reports, “The Bank of England on Thursday is expected to push through the biggest interest rate increase in 27 years despite growing risks of a recession.”
That’s quite a divide…
And, hang on a minute… we are talking about a central bank hiking interest rates into a recession? What could possibly go wrong?
Find out what Nigel’s Farage’s real worry is, in this video…
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Nick Hubble
Editor, Fortune & Freedom
