Bank of England's forecasts under fire from former UK rate-setters

Five former Bank of England rate setters have attacked their old employer for going soft on inflation despite hiking borrowing costs last Thurday to a 14-year high.
 

John Vickers, a former chief economist who joined the central bank in 1998, will say in his Beesley lecture in London on Wednesday night that the central bank has fallen short and must be bolder to bring inflation back to the 2% target. 

Consumer prices surged by 10.1% in the year through September, the most in four decades.

“As things stand currently, they need to tighten policy appreciably when the real economy is weakening,” Vickers