Tomorrow's Business Today
Inflation troubles for the Bank (and The Chancellor)
Is Rishi Sunak entirely comfortable with the Bank of England’s stance on inflation?
The Bank still says, in the face of increasingly scary sounding headlines, that inflation is a temporary thing, a blip.
Supply chains and energy issues will resolve themselves before long, and inflation will quickly fall.
Officially, the chancellor and governor Andrew Bailey are in lockstep on this one.
The letters they have to exchange when inflation is higher than 2% say so.
I wonder if privately Sunak isn’t shifting from this position, if only for PR reasons.
The Bank has been so certain that inflation won’t be a problem for long that it faces an almighty kicking if it turns out to be wrong.
And it hasn’t given itself much wiggle room.
But Bailey isn’t a politician and Sunak is. We are looking closely for signs of a rift.
Today’s Find Out Now poll asked real people how they are experiencing inflation. The results are interesting, you can see them below.
Press release of the day
The great resignation has struck the UK tech sector – 3 out of 5 tech workers want to change jobs, we read.
Where do they want to go? Estonia, apparently. Since this report is from a group called Work in Estonia it’s not entirely dis-interested.
Quite funny though.