Mervyn King says central banks made ‘serious errors’ on inflation
Former BoE governor says UK should raise rates further to curb spiralling prices
Central banks around the world made “serious errors” in their response to the Covid-19 crisis, which fuelled the current surge in inflation, former Bank of England governor Mervyn King said on May 17.
King criticised central banks that launched quantitative easing programmes at a time when many governments were also unveiling large stimulus packages to support the economy. “That was a mistake,” he said.
A second mistake was to believe inflation would eventually fall on its own, King said in an
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