Bank of England expert: tight policy not the right policy on inflation

Monetary policy committee member warns against choking off UK economy to combat inflation

The Bank of England would risk choking off recovery with an overhasty tightening of policy to combat a temporary rise in inflation, according to both a current and soon-to-be member of the central bank's key interest-rate-setting committee.

Prof Jonathan Haskel, one of the eight members of Threadneedle Street's monetary policy committee (MPC), said the twin headwinds of the Delta variant of the coronavirus and the withdrawal of support from the government meant tight policy is not the right policy".