London | At first glance, the Bank of England seems to be trying to run in two different directions at the same time: raising interest rates on one hand, while buying bonds and driving down yields on the other. But all is not quite as it might appear.
True, Chancellor Kwasi Kwarteng’s stimulatory tax-cutting plans have created a monetary policy headache for the Bank of England, which is trying to destimulate the economy.
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
