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Box A: Public Confidence in the Bank of England

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  • Ana Carolina Garriga
Abstract
Even though inflation has consistently fallen in the past two quarters, public confidence in the Bank of England's ability to bring inflation down and closer to its target has reached its historical low since the Bank started recording these data (figure A1). These results from the Bank's Inflation Attitudes survey are surprising because when the survey was conducted, inflation had just reached its lowest rate in 15 months, falling from 11 per cent in October 2022 to 6.8 per cent in July 2023. This change was also reflected in the respondents' expectations about inflation, suggesting that they were aware of this improvement in inflation outcomes.

Suggested Citation

  • Ana Carolina Garriga, 2023. "Box A: Public Confidence in the Bank of England," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 12, pages 16-22.
    • Handle: RePEc:nsr:niesra:i:12:y:2023:p:16-22
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    References listed on IDEAS

    as
    1. Anna Stansbury & Dan Turner & Ed Balls, 2023. "Tackling the UK’s regional economic inequality: binding constraints and avenues for policy intervention," Contemporary Social Science, Taylor & Francis Journals, vol. 18(3-4), pages 318-356, August.
    2. Philip McCann, 2020. "Perceptions of regional inequality and the geography of discontent: insights from the UK," Regional Studies, Taylor & Francis Journals, vol. 54(2), pages 256-267, February.
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