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That’s the point. Raise rates to slow borrowing and spending to reduce inflation.
6% is an arbitrary number though, there’s no reason why 5.9 won’t have the same effect.
Doomberg doing their usual click baity crap.
The other effect of raising rates is that cost of living goes up, and that’s why UK is headed for recession now. The only two levers capitalist economies have are raising rates or doing QE, now both of these tactics are leading to severe problems.
