BoE’s Greene: Acting Now to Control Inflation Is the Better Choice

Cointime reports: Bank of England Monetary Policy Committee member Megan Greene said acting now to control inflation is preferable to a cautious approach that risks significant second-round effects. Greene was among the majority who voted to raise the benchmark rate from 3.75% to 4% at the BoE’s November meeting, having earlier been in the minority calling for an earlier hike. She said the greater policy error would be failing to control inflation after roughly five and a half years above target.