The Bank of England has again ramped up its warnings about rising prices and admitted the economy is not growing as fast as it had expected.However, it stopped short of taking action in a bid to help cool costs as its monetary policy committee (MPC) kept interest rates on hold and maintained the Bank’s £895bn bond-buying support for the post-COVID economic recovery.
The Bank said its staff now expected growth during the current third quarter to come in 1% weaker than estimated just last month amid the deteriorating price boom.The challenges include extra costs associated with a shortage of …
