Caravan Up For Rent In London For £790 A Month - But It's In Someone's Garden           >>           Man Found Huge Stash Of Cash Hidden Inside Old Playstation Two Game           >>           Bruce Willis’ Wife Emma Heming Shares Rare New Video Of Actor After Aphasia Diagnosis           >>           Olivia Munn Gives Sweet Shout-Out To Mindy Kaling For "Invaluable" Mom Advice           >>           Why Rob Kardashian Didn't Attend Kourtney Kardashian And Travis Barker's Wedding In Italy           >>           Help Your Liver Detoxify: 4 Tips To Remove Toxins From The Body           >>           Prevent Age-Related Cataracts By Increasing Your Intake Of Vitamins And Carotenoids           >>           Pfizer Slashes Drug Prices For Poorest Nations, Expanding Access           >>           Tesla Quarantining Thousands Of Workers To Restore China Output           >>           James Webb Space Telescope Practices Tracking An Asteroid For The 1st Time           >>          





[email protected]



[email protected]



[email protected]



+673 222-0178 [Office Hour]

+673 223-6740 [Fax]


Upcoming Events

Building Winning Teams | Masterclass with Dr Chito Salazar by Asia Inc Forum
May 26th, 2022 | 11:00 AM

Creativity and Innovation in Nursing by JPMC
May 27th, 2022 | 07:30 AM

Energy Week by Ministry of Energy and Brunei Mid-Year Conference and Exhibition 2022 (Brunei MYCE)
June 15th, 2022 | 09:00 AM

Prayer Times

The prayer times for Brunei-Muara and Temburong districts. For Tutong add 1 minute and for Belait add 3 minutes.


: 04:33AM


: 04:43AM


: 06:06AM


: 06:30AM


: 12:18PM


: 03:42PM


: 06:28PM


: 07:43PM


The Business Directory



World Business

  Home > World Business

Former UK Cabinet Member Says BOE Failed To See Inflation Threat

Liam FoxPhotographer: Dan Kitwood/Getty Images


 May 13th, 2022  |  15:46 PM  |   132 views



A former U.K. Cabinet member blasted the Bank of England for “consistently” misjudging the threat of inflation, a sign Governor Andrew Bailey will face mounting political pressure to combat the cost of living crisis.


In a speech on Thursday, Liam Fox, a former defense secretary, called for lawmakers to launch an investigation into why the central bank “comprehensively underestimated” the danger, and advised the government to “think about what guidance might be given to the Bank of England on considering and reporting monetary stability.”


“It is the duty of central banks to safeguard the value of our money and our savings,” said Fox. “The Bank of England persisted beyond any rational interpretation of the data to tell us that inflation was transient.”


Bailey is set to face a committee of lawmakers next week at a time when surging consumer prices are squeezing households and forcing the BOE to raise interest rates aggressively. Along with the latest hike on May 5, the governor unveiled forecasts showing inflation will exceed 10% in the fourth quarter.


A group of former central bankers all told the same panel this week that rates will likely need to rise above 3% from the current 1%.



courtesy of BLOOMBERG

by Simon Kennedy


If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]


Related News

Petronas Contributes RM1 Million In Equipment For Homeward Programme

 2022-05-25 12:13:28

North Korea Fires Missiles Hours After Biden Leaves Asia

 2022-05-25 14:54:55

Pfizer Slashes Drug Prices For Poorest Nations, Expanding Access

 2022-05-25 15:42:47