UK's Lomax: rate hike was inflation 'insurance'
Rachel Lomax, a deputy governor at the Bank of England suggested that successive interest rate hikes by the Bank this year were akin to "buying insurance" against possible inflation spikes.
Speaking to the Cardiff Business Club on 27 November, Lomax, a member of the Bank's rate setting committee considered the longer-term international context for UK monetary policy, and linked this to the challenges now facing the MPC.
She argued that there was a risk that a high headline rate of inflation
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