He admits that the BOE's policy approach "has not been optimal" and they are definitely being put on the spot now as inflation continues to run at double-digits in March. The real headache for them is that they have to balance that out against the backdrop of a cost-of-living crisis and likely worsening economic conditions.
As for acting any earlier than they have, Broadbent says that if they starting hiking rates six months earlier, it might have just lowered peak inflation by around 0.5%.
