Recent UK monetary policy in a changing economy − speech by Jonathan Haskel

Given at Bank of Israel
Published on 11 November 2022

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.