April Bank of England meeting. Interest rate going up just before election?

[Tony]

Inflation is on the rise and yet again the Governor of the Bank of England will have to write to the Chancellor to explain why inflation has jumped from 3.1% in January to 3.4% last month.

 

(The Gvt CPI target is just 2%)

 

Rumours abound that the Bank of England will have to increase interest rates to control inflation but it's just weeks before the general election wand some say that Gordon Brown's fiscal reputation is in tatters.

 

Petrol is up by nearly a third, house prices are on the up and energy and food costs are putting pressure on household bills

 

So should interest rates go up or will government pressure the BoE to keep interest rates at the record low of 0.5%?

[esme]

Inflation is on the rise and yet again the Governor of the Bank of England will have to write to the Chancellor to explain why inflation has jumped from 3.1% in January to 3.4% last month...

 

perhaps because neither the previous chancellor nor this one really understand economics, to which end I offer the state of our economy compared to pretty much everyone else's

 

it would be a rather short letter and would probably be accepted as a resignation