In the FT, DeAnne Julius (one time member of the BoE/MPC) is warning that a combination of lower output, higher unemployment & rising input prices (all of which she observes in the UK) could lead to the return of 'stagflation'.... and as such is warning the MPC that it should not be considering lowering interest rates further (although its not clear it was).

In other words; the sado-monetarists now conveniently have another reason to keep your mortgage rates high(er).

#inflation #InterestRates