Oh, inflation’s the least of your worries, chuckles Bank of England


Mandatory Credit: Photo by Canadian Press/REX/Shutterstock (5772291a) Mark Carney Mark Carney visit to Toronto, Canada - 15 Jul 2016 Bank of England governor Mark Carney participates in a discussion with Canada's Federal Minister of Environment and Climate Change in Toronto. Carney is in Toronto today along with Environment Minister Catherine McKenna to discuss the implications of climate change initiatives for the financial sector in Canada and the world.

THE Bank of England has promised anyone worried about inflation that soon they will look back and marvel at how naive they were.

Governor Mark Carney said: “Inflation means it will cost more money to buy food, but that’s only an issue if you have money and food is available to buy.

“I won’t call it good news, but let’s just say that’s not how our society’s going to be operating by 2019.

“Interest rates will go up, but that only matters to mortgage holders and well, I think the people of Britain will find one flooded ruin offers the same shelter as any other.”

Carney added: “Inflation’s hardly up there with war, famine, pestilence or death, is it?

“Light relief in comparison.”

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