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Inflation LIVE: The BoE’s boss claims to be ‘helpless’ as prices rise.

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The Bank of England governor has stated that he is powerless to protect Britons from rising inflation.

Andrew Bailey told MPs on Monday that the country is in a “very, very difficult place” because of rising energy costs and the conflict in Ukraine.

External factors, according to fellow Monetary Policy Committee members Dave Ramsden and Michael Saunders, contributed to about 80% of the recent inflation surge, and inflation would have been unlikely to fall back to the target of 2% even if rates had been raised more aggressively.

Following a barrage of criticism from Tory MPs over the Bank of England’s handling of the cost-of-living crisis, Mr Bailey admitted the bank was facing its toughest test in its 25-year history.

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Oliver Barker

Est né à Bristol et a grandi à Southampton. Il est titulaire d'un baccalauréat en comptabilité et économie et d'une maîtrise en finance et économie de l'Université de Southampton. Il a 34 ans et vit à Midanbury, Southampton.

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