It’s not the Bank of England’s job to support the Chancellor

cityam05-05 12:22

The Bank of England, headed up by Andrew Bailey, held interest rates last week the Bank of England’s MPC is acting as if its role is to support the Chancellor and protect the real economy, rather than...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2633996226?lang=en_US&edition=fundamental","thumbnail":"https://www.cityam.com/wp-content/uploads/2026/05/Andrew-Bailey-Bank-of-England-e1777902925795.jpg?w=824&h=463&crop=1","is_english":true,"pubTime":"2026-05-05 12:22","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2633996226","market":"fut","top_or_hot":-1,"title":"It’s not the Bank of England’s job to support the Chancellor","media":"cityam","content":"<div>\n<p>The Bank of England, headed up by Andrew Bailey, held interest rates last week the Bank of England’s MPC is acting as if its role is to support the Chancellor and protect the real economy, rather than...</p>\n\n<a href=\"https://www.cityam.com/its-not-the-bank-of-englands-job-to-support-the-chancellor/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It’s not the Bank of England’s job to support the Chancellor</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt’s not the Bank of England’s job to support the Chancellor\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-05 12:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/its-not-the-bank-of-englands-job-to-support-the-chancellor/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Bank of England, headed up by Andrew Bailey, held interest rates last week the Bank of England’s MPC is acting as if its role is to support the Chancellor and protect the real economy, rather than...</p>\n\n<a href=\"https://www.cityam.com/its-not-the-bank-of-englands-job-to-support-the-chancellor/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0266512473.USD","symbol_name":"JPM GLOBAL NATURAL RESOURCES \"C\" (USD) ACC","start_time":0,"source_url":"https://www.cityam.com/its-not-the-bank-of-englands-job-to-support-the-chancellor/","article_id":"2633996226","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/05/Andrew-Bailey-Bank-of-England-e1777902925795.jpg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/its-not-the-bank-of-englands-job-to-support-the-chancellor/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2633996226","pubTimestamp":1777954920,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"The Bank of England, headed up by Andrew Bailey, held interest rates last week the Bank of England’s MPC is acting as if its role is to support the Chancellor and protect the real economy, rather than control inflation, writes Paul OrmerodThe Bank proclaims on its website that “We set monetary policy to achieve low and stable inflation. This is our primary monetary policy objective”. It goes on to note that in practice this means “keeping inflation at two per cent over the medium term”.Taking the broad measure of inflation, the consumer price index , the last time it was below two per cent was in September 2024, at 1.7 per cent. But that was the only month in the past five years when this was the case.In April 2021 inflation was 1.5 per cent. By the end of that year it had risen to 5.4 per cent. It rose almost throughout the whole of 2022, finishing the year at 10.5 per cent. Since then it has averaged 4.3 per cent, more than double the Bank’s target rate.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0266512473.USD":"JPM GLOBAL NATURAL RESOURCES \"C\" (USD) ACC","LU0368265418.SGD":"Blackrock World Energy Fund A2 SGD-H","LU0300736062.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) ACC","BK4588":"碎股","LU0122376428.USD":"贝莱德世界能源基金A2","BK4585":"ETF&股票定投概念","LU0788109394.HKD":"BGF WORLD ENERGY \"A2\" (HKDHGD) ACC","LU0266512127.USD":"摩根大通环球自然资源 A(acc)","BK4138":"石油与天然气的炼制和营销","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","CPI":"IQ Real Return ETF","MPC":"马拉松原油","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC"},"translate_title":"支持财政大臣不是英格兰银行的工作","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CPI":1,"MPC":1},"content_text":"The Bank of England, headed up by Andrew Bailey, held interest rates last week the Bank of England’s MPC is acting as if its role is to support the Chancellor and protect the real economy, rather than control inflation, writes Paul OrmerodThe Bank proclaims on its website that “We set monetary policy to achieve low and stable inflation. This is our primary monetary policy objective”. It goes on to note that in practice this means “keeping inflation at two per cent over the medium term”.Taking the broad measure of inflation, the consumer price index (CPI), the last time it was below two per cent was in September 2024, at 1.7 per cent. But that was the only month in the past five years when this was the case.In April 2021 inflation was 1.5 per cent. By the end of that year it had risen to 5.4 per cent. It rose almost throughout the whole of 2022, finishing the year at 10.5 per cent. Since then it has averaged 4.3 per cent, more than double the Bank’s target rate.\n\nThe Monetary Policy Committee (MPC) believes the main tool to control inflation is Bank Rate, the interest rate the Bank pays on deposits placed with it overnight by commercial banks. Increasing the rate is believed to slow down economic activity, which in turn will lead to a moderation in inflation.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nInflation in not under controlGiven that inflation has consistently been above target, it seems rather curious that since August 2023 the only movements in Bank Rate have been down, from 5.25 per cent to 3.75 per cent.At the MPC meeting last week, eight members voted to leave Bank Rate as it is, with only the Bank’s chief economist, Huw Pill, voting for a modest increase to four per cent.The Bank attempted to justify the decision by publishing three scenarios on the projected path of inflation over the next few years. The scenarios differ in essence on what happens to the price of oil. In the most pessimistic outlook, in which oil is at $130 a barrel for the rest of 2026, inflation peaks at six per cent and remains above the two per cent target even in 2028. But even in the other two scenarios, which assume lower oil prices, inflation is projected to be higher than the target in both 2026 and 2027.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.1","shortVersion":"4.42.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2633996226","isCrawlerRequest":true}