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That's democracy in action!
That's democracy in action!
The multipronged stimulus effort to bolster the British economy in the wake of the Brexit vote ran into criticism even inside the Bank of England that it was too much, too soon.
Source: Bank of England Wasn’t United on Stimulus Package – WSJ
While it is certainly important to be cautious when implementing monetary policy, I agree with Dominic Bryant at BNP Paribas SA that it is easier to tackle inflation than it is to elevate an economy after a significant downturn. The Bank of England’s policy seems prudent given the circumstances; hopefully it is just what is needed to help the country recover economically after Brexit.
