Pier: Policy makers should not ignore inflation risks and support raising interest rates to 4%

The Chief Economist of the Bank of England, Peel, voted in favor of raising interest rates to 4%, citing concerns about inflation continuing to exceed the Bank of England's 2% target. Pierre stated that policy makers should not take the current inflation situation lightly, as the Middle East conflict has led to rising energy prices and the risk of inflation rates increasing. Pierre believes that an inflation rate higher than the target of 1% should still be considered a problem, and expresses concern about the market's acceptance of 3% inflation after it rose to 11%.