The Bank of England’s (BoE) recently increased their interest rates. However, the BoE ultimately decided upon less of an

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The Bank of England’s (BoE) recently increased their interestrates. However, the BoE ultimately decided upon less of anincremental increase than the US Federal Reserve did. This decisiondrew stark criticism from several economists and financiers.One of the main critics of the BoE’s decision was Sir HowardDavies. In class we watched a Bloomberg interview where he arguedin favour of a much larger rate increase.In your view, was Sir Davies correct in his criticism of theBoE?