Recession 'is only way to beat inflation'

ECONOMISTS have claimed the Bank of England must force a recession to control inflation.

- Sam Lister

Another interest rate rise is expected tomorrow as the central bank battles to bring down soaring living costs.

Treasury insiders say they will back whatever the Bank thinks is necessary to curb prices.

Alex Brazier, a former member of the Bank's financial policy committee, said inflation would only fall below the 2% target if a recession was forced.

The deputy head of the BlackRock Investment Institute, said it has already "hit the brakes" on the economy "pretty hard" by raising interest rates on 13 consecutive occasions.

Mr Brazier told BBC Radio 4's Today programme: "Inflation has become somewhat entrenched and getting it down to its two per cent target probably does entail weak growth and higher unemployment.

"Remember we have already had no growth for the last 18 months. But of course it has already raised interest rates. It's hit the economic brakes quite hard." Mr Brazier said "the brakes are working" but the Bank has to "take care not to overdo it" in trying to meet its inflation target.