Andrew Sentance, who yesterday stepped down as a member of the Bank of England (BoE) monetary policy committee (MPC), has condemned the Bank's refusal to raise interest rates.
The BoE hawk's comments come before the release of the Bank's lending figures, due to be published this morning. Sentance used the last day of his five year term on the MPC yesterday to deliver a parting shot in a Sky News interview in which he claimed the BoE faces losing credibility. "If inflation does not come down in the way that the Bank is suggesting, and I think there is a big risk that is the case, that is going to have a big knock on effect on the credibility of the bank's commitment to its inflation target," he said. His comments are a second attack on the Bank, after an ...
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