Bank of England’s Andy Haldane warns of inflation rises

Departing chief economist says central bank could be forced to stop economy from overheating

The Bank of England's outgoing chief economist has warned that inflation could rise by more than expected and force the central bank into a dangerous handbrake turn" to stop the economy from overheating.

In a parting shot at his fellow rate-setters on his final day at Threadneedle Street on Wednesday, Andy Haldane said he expected that a surge in consumer prices would drive UK inflation close to 4% this year.