Editor
“Somehow, in the UK, someone needs to accept that they’re worse off and stop trying to maintain their real spending power by bidding up prices [or] wages or passing the energy costs on to customers.” This comment by Huw Pill, the Bank of England’s chief economist, has set off a firestorm.
Is he right? Yes, but only up to a point. Is lecturing people useful? No. What is useful is for the BoE and other central banks to show that…
