Economic news

Inflation picture is concerning, British junior finance minister says

2022.05.23 17:25

Inflation picture is concerning, British junior finance minister says
FILE PHOTO: A person pushes a shopping cart next to the clubcard price branding inside a branch of a Tesco Extra Supermarket in London, Britain, February 10, 2022. REUTERS/Paul Childs

LONDON (Reuters) – The inflation picture is hugely concerning but the British government has confidence in the Bank of England to get it right, Chief Secretary to the Treasury Simon Clarke said on Monday.

British inflation surged last month to its highest annual rate since 1982, pressuring finance minister Rishi Sunak to offer more help to households and the Bank of England to keep raising interest rates despite a risk of recession.

“The inflation picture is what is hugely concerning and is making waves across both America and Europe as well. And that’s because this is a truly global problem,” Clarke told LBC Radio.

“We absolutely have confidence in the independent Bank of England to get this right and it’s vitally important that we don’t compromise their independence.”

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,320.34 0.28%
ethereum
Ethereum (ETH) $ 3,419.43 2.26%
tether
Tether (USDT) $ 1.00 0.01%
solana
Solana (SOL) $ 255.99 1.26%
bnb
BNB (BNB) $ 668.22 1.65%
xrp
XRP (XRP) $ 1.47 5.39%
dogecoin
Dogecoin (DOGE) $ 0.436837 4.92%
usd-coin
USDC (USDC) $ 0.999883 0.04%
cardano
Cardano (ADA) $ 1.07 2.21%
staked-ether
Lido Staked Ether (STETH) $ 3,419.56 2.26%
tron
TRON (TRX) $ 0.216012 3.12%
avalanche-2
Avalanche (AVAX) $ 42.25 2.19%
stellar
Stellar (XLM) $ 0.578635 33.47%
the-open-network
Toncoin (TON) $ 6.43 14.82%
shiba-inu
Shiba Inu (SHIB) $ 0.000027 0.19%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,053.90 2.38%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,892.23 0.53%
polkadot
Polkadot (DOT) $ 9.01 19.41%
chainlink
Chainlink (LINK) $ 17.71 4.70%
bitcoin-cash
Bitcoin Cash (BCH) $ 512.74 3.84%
weth
WETH (WETH) $ 3,422.30 2.31%
sui
Sui (SUI) $ 3.46 4.64%
pepe
Pepe (PEPE) $ 0.000021 2.82%
near
NEAR Protocol (NEAR) $ 6.67 6.21%
leo-token
LEO Token (LEO) $ 8.67 1.32%
litecoin
Litecoin (LTC) $ 101.82 0.28%
aptos
Aptos (APT) $ 12.90 2.19%
uniswap
Uniswap (UNI) $ 11.06 5.64%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,600.48 2.31%
hedera-hashgraph
Hedera (HBAR) $ 0.151392 0.71%
internet-computer
Internet Computer (ICP) $ 11.61 5.49%
crypto-com-chain
Cronos (CRO) $ 0.198099 3.32%
usds
USDS (USDS) $ 1.00 0.36%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.579692 7.60%
ethereum-classic
Ethereum Classic (ETC) $ 30.21 3.16%
render-token
Render (RENDER) $ 7.97 1.16%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.52 14.90%
bittensor
Bittensor (TAO) $ 539.70 1.96%
kaspa
Kaspa (KAS) $ 0.154589 2.73%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.07%
arbitrum
Arbitrum (ARB) $ 0.880492 6.41%
whitebit
WhiteBIT Coin (WBT) $ 24.73 0.49%
bonk
Bonk (BONK) $ 0.000047 5.02%
filecoin
Filecoin (FIL) $ 5.90 15.19%
cosmos
Cosmos Hub (ATOM) $ 9.04 13.93%
vechain
VeChain (VET) $ 0.043378 0.62%
dai
Dai (DAI) $ 0.999841 0.07%
mantra-dao
MANTRA (OM) $ 3.78 0.43%
dogwifcoin
dogwifhat (WIF) $ 3.29 2.77%
okb
OKB (OKB) $ 54.13 9.88%