Join Ian King for an hour of business and economic news from the heart of The City as the Chancellor tells Sky News he’ll do whatever it takes to bring down inflation – even if it means a recession.

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Joining Ian in the studio is Fluro’s CEO Nick Harding to discuss household debit and AI Lead at Tata Consultancy Services, Anantha Sekar on AI technology.

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Ian King Live, the popular business news program on Sky News, recently covered a significant announcement by the Chancellor of the Exchequer, Rishi Sunak. The Chancellor declared that he would do whatever it takes to bring down inflation in England. This announcement comes as inflation in the United Kingdom has risen significantly in recent months, fueled primarily by the global supply chain disruptions caused by the COVID-19 pandemic.

Inflation is the rate at which the prices of goods and services increase over time, leading to a decrease in the purchasing power of money. When inflation rises to a level that is deemed too high, central banks may take various actions to bring it back down to a more manageable level. The Bank of England, which is responsible for monetary policy in the UK, has an inflation target of 2%. However, the current inflation rate is more than double that, standing at 4.2%.

Chancellor Sunak’s comments on Ian King Live reflect the seriousness of the current inflation situation in the UK. He stated that he would be “watching it like a hawk” and that he would take whatever action is necessary to bring it down. This is an important announcement, as it signals that the government is prepared to take bold steps to keep inflation under control.

So, what might the Chancellor do to bring inflation down? One possibility is that he could increase interest rates. When interest rates go up, borrowing becomes more expensive, and this can have a dampening effect on economic activity. It can also cause people to save more, rather than spending their money, which can lead to a decrease in demand for goods and services. Lower demand can then lead to lower prices, which can help bring inflation down.

Another possibility is that the government could implement policies to boost the supply of goods and services. This would help to ease the bottleneck that is currently causing supply chain disruptions, leading to higher prices. Measures such as investing in infrastructure, reducing red tape, and encouraging businesses to increase production could all help to boost supply.

Whatever measures the Chancellor decides to take, it is clear that the government is taking the issue of inflation seriously. With the UK still grappling with the ongoing impact of the pandemic, rising inflation is one more challenge that the economy will have to face. However, with decisive action from the government, it is possible that inflation can be brought down to a more manageable level. For now, businesses and consumers alike will be watching closely to see what steps the Chancellor takes next.