On leaving his job as chief economist of the Bank of England this week Andy Haldane delivered a disconcerting critique of his fellow central bank policymakers.
Speaking at the Institute for Government, he warned that people and companies had “a dependency culture around cheap money” and that the threat of a rapid increase in prices was “rising fast”.
His view stands in contrast to mainstream central bank thinking, including at the Bank of England. It nonetheless reflects growing concern about inflation fuelled across global markets by the release of data in June showing that US consumer prices increased by 5 per cent in the year to May.
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