Mervyn King says central banks made ‘serious errors’ on inflation

Central banks around the world made “serious errors” in their response to the Covid-19 crisis, which fuelled the current surge in inflation, former Bank of England governor Mervyn King said on May 17.

King criticised central banks that launched quantitative easing programmes at a time when many governments were also unveiling large stimulus packages to support the economy. “That was a mistake,” he said.

A second mistake was to believe inflation would eventually fall on its own, King said in an

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