MPs quiz experts on how to tackle inflation
The Treasury Committee will seek experts’ views on how to tackle inflation at 2.15pm on Wednesday 11 May.
In March 2022, consumer price inflation reached 7%, its highest level since 1992. MPs are likely to seek the views of the panel, all of whom are former members of the Bank of England’s Monetary Policy Committee (MPC), on how policymakers have responded and should respond to rising inflation.
Likely areas of questioning
In the final session of its Jobs, Growth and Productivity after Coronavirus inquiry the Committee will explore whether the MPC is getting the balance between tackling inflation and maintaining growth and jobs, how high interest rates might need to rise, and what the Government can do to ease inflationary pressures.
Other potential topics include the likelihood of a return to pre-financial crisis interest rate levels, whether inflation is back to stay as a permanent feature of the post-pandemic economy, and the drivers of the inflation spike both globally and in the UK.