On Thursday we learned that the Bank of England's MPC voted to raise interest rates to 1% from 0.75%, their highest level since 2009 and the fourth consecutive increase since December.  

The Bank is grappling with rising inflation – which forecast to top 10% by the end of the year – but also worried about the risk of recession. 

But did the Bank go far enough. And what are the ramifications for the UK economy?  

In this podcast, Julian Jessop, Economics Fellow at the Institute of Economic Affairs, assessed the Bank's decision and the outlook for the UK economy.

 

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