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Bank of England predicts cost-of-living 'hardship'
Video Credit: ODN
Published on May 5, 2022 - Duration: 00:49s
Bank of England predicts cost-of-living 'hardship'
Rising inflation will see household disposable income fall by 1.75 per cent this year in the second largest contraction on record, according to the Governor of the Bank of England.
Andrew Bailey said: "I recognise the hardship this will cause for many people living in the UK, particularly those on the lowest incomes โฆ who are hit hardest by increases in the prices of basic necessities." Report by Buseld.
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Bank of England
Central bank of the United Kingdom
The governor of the Bank of England has signalled the UK is still on course for an interest rate cut as official figures show a further easing in the pace of..
Credit: Sky News - Published 1 week ago
Andrew Bailey (banker)
British central banker (born 1959)
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