MPC member defends stance in the face of rising inflation

A MEMBER of the Bank of England committee that sets interest rates has defended its performance in spite of the rising cost of living which is putting pressure on households and businesses.

Paul Fisher told the Yorkshire Post that the Monetary Policy Committee's decision to reduce rates to an all-time low helped the UK economy to weather the worst of the recession.

"The decisions we took through 2009 are the ones that are determining inflation rate now and nobody so far has said we should have had tighter policy through 2009 – that was the period output was falling, we were trying to bring the recession to an end," he said.

 

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