LONDON (CU)_After a significant downturn throughout the past year on account of the pandemic, many developed economies are now beginning to rebound strongly, as lockdowns are lifted and international borders are reopened. Against such a background, inflation in the United States, the world’s largest economy has reached 4.2 per cent, its highest rate since 2008, and according to the Bank of England’s chief economist, Andy Haldane, the UK’s own rate of price rises is also likely to catch up. According to Haldane, inflation in the country to rise well beyond the central bank’s expectation, prompting risks of a “nasty surprise”, in the form of a sharp hike in interest rates.
The BoE is of the view that inflation would likely reach…
