Last week, an unexpected cooling of inflation allowed the Bank of England to leave interest rates unchanged.

But with CPI still running more than three times above its target, has the Bank wimped out before the battle is won?

And in today’s Dumb Question of the Week: Instead of hiking interest rates to fight inflation, why doesn't the government simply urge people to spend less?

Selected links

• Monetary Policy Summary and minutes (20 September 2023) - Bank of England
• No More Baubles: Post-Plague Consumption
• The Regulation of Consumption | Encyclopedia.com

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