Raising rates is an incredibly blunt tool

You are correct, rising energy costs are behind some of the inflation.
The other culprit is QE which went on too long.
I don’t see an alternative to raising rates at this time, in fact I’d hike them heavily and rapidly with a view to killing inflation quickly.
You can then always slash rates in a few months.

Posted By: JoeyDeacon, Jul 28, 16:13:52