'This is the recession that the Bank of England yesterday has said it wants, in order to get prices down (for its own sake).' I may have misunderstood this, but why do you say it's for the BoE's sake? Isn't it for the sake of savers who will soon see their £100k nest egg reduced to £80k, or workers who, for the most part, will be getting lower wages in real terms?

Is it your view that inflation is going to fall back to 2% without any action by the BoE? If so, why?

Also, we are almost certainly already in a recession despite the BoE having done no QT at all until about a week ago (and even then, only a token amount). A recession has seemed nailed on ever since inflation hit double digits and retail energy prices doubled.

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