UK researchers propose 3% inflation target and negative rates

Inflation stalls at 6.7% in September, the same figure as in August

Bank of England
Bank of England
Photo: Juno Snowdon Photography

A new report has proposed raising the UK’s inflation target to 3% and permitting the Bank of England to set negative interest rates. The paper comes out just after the latest headline inflation figures, which show progress towards disinflation has stalled.

The proposals form part of a a new paper, Built to last: Towards a sustainable macroeconomic policy framework for the UK, by Simon Pittaway and James Smith. It was published jointly by the Resolution Foundation, an economics-focused think

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