"Bank of England Deputy Governor for Monetary Policy Ben Broadbent spoke yesterday of his belief that the appropriate response to the current rise in inflation is to ignore it.

This is based on a growing belief that given the level of support that has been pumped into the economy to keep it afloat during the Pandemic, inflation is both a small price to pay and a wholly expected outcome.

Strong demand and supply bottlenecks continue to drive prices higher, but the trend for higher prices is unlikely to persist.

Bank of England Deputy Governor for Monetary Policy Ben Broadbent spoke yesterday of his belief that the appropriate response to the current rise in inflation is to ignore it.

Broadbent finds himself at odds with his MPC colleagues Dave Ramsden and Michael Saunders, who last week surprised markets by calling for tighter policy sooner rather than later.

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