Recent UK Monetary Policy In A Changing Economy − Speech By Jonathan Haskel, Bank Of England, Member Of The Monetary Policy Committee, Given At Bank Of Israel

Jonathan Haskel

Member of the Monetary Policy Committee

In this speech Jonathan Haskel talks about inflation in the UK economy. He explains how energy prices affect inflation, why inflation is expected to fall quite sharply in 2023 and 2024, and how the shortage of workers in the economy plays a role in driving inflation. 

He discusses how these factors interact, and why he voted to raise interest rates by 0.75% at the November 2022 Monetary Policy Meeting, in order to prevent inflation from becoming persistent.