Bank of England Holds Rates Amid Inflation Risks
The Bank of England holds interest rates at 4 percent amid high inflation and global economic uncertainty.https://www.olamnews.com/economy/1931/international-economy-boe-holds-rates/
The economist Michael Hudson is one of the best practioners of political economy. He is firmly outside of the neoliberal consensus.
-“Today’s world economy is as good as it gets.” I think the United States, Europe, and the Near Eastern economic and political situation is, obviously, it’s unstable. And almost any specific forecast we make is likely to be wrong because there are so many variables at work and competing interests at play. But actually, this is what mathematicians call an optimum position. That may sound optimistic, and I’m never one to be optimistic, but an optimum position is technically one that, wherever you move, it’s going to be worse.
This is mathematically as good as it is. And that’s pretty much the situation you have today.-
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