The Bank of England is facing mounting criticism over its handling of the economy since the country emerged from the Pandemic.

Critics are pointing to the fact that the Bank’s Governor, Andrew Bailey, failed to recognize the warning signs of rising prices when he first had an opportunity to act last summer.

While the Chancellor was praised over his actions in providing support for businesses and their workers, the Monetary Policy Committee became mired in its concerns over whether the nascent recovery would be blown off course, by a rate hike to nip rising prices in the bud.

It would, of course, have been a bold decision and one that no other G7 Central bank was prepared to take, particularly since the UK also had Brexit to contend with.

Nevertheless, the reason that the MPC was created was to provide as wide a range of views on the state of the economy as possible and to act in a manner that reduced the burden on a single person.

Beyond Currency Market Commentary:

Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.