Inflation is coming, says the Bank of England – but don't expect us to react

The Bank of England is confident we’ll see inflation, but says it’s going to keep interest rates where they are and carry on printing money. John Stepek explains what that means for you.

Bank of England
Bank of England: relaxed
(Image credit: © Simon Dawson/Bloomberg via Getty Images)

Yesterday, the Bank of England told us that it had no plans to raise interest rates nor to end its current money-printing activities early.

There was only one dissenter from the consensus. With frankly marvellous timing, we have the man responsible for that one dissenting vote – retiring chief economist, Mr Andy Haldane – on the MoneyWeek podcast, which you can listen to here right now.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.