Bank of England governor Andrew Bailey is the “chief ostrich”, a furious senior Tory has said in a blistering on the central bank following yesterday’s interest rate hike.
In a searing broadside Andrea Leadsom, an ex-Treasury minister, told The Independent Mr Bailey had “lots of questions” to answer. “Too little too late is the reason inflation is now becoming sticky,” she said.
Earlier this morning Jeremy Hunt hauled in some of the country’s biggest lenders for talks over the looming mortgage crisis after interest rates rose to 5 per cent, pilling further misery on homeowners.
He was due to hold talks with the CEOs of Lloyds, Santander, Barclays, Natwest, HSBC and others to urge them to do more for their customers, millions of whom are being hit with soaring monthly payments.
Extending mortgage terms and granting customers payment holidays are among some of the options being considered, reports say.
