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![Former governor says Bank of England ‘made mistakes’ over cost of living crisis](https://cdn.jwplayer.com/v2/media/FSek6LYI/poster.jpg?width=720)
02:05
Former governor says Bank of England ‘made mistakes’ over cost of living crisis
Former Bank of England governor Mervyn King has launched an attack on central banks, suggesting they have a shared responsibility for the cost of living crisis.
Lord King says financial institutions have fuelled a rise in inflation by printing hundreds of billions of pounds and dollars during the Covid pandemic.
He also warned Britons must brace themselves for a “very unpleasant period” and believes considerable interest rate hikes are now needed to prevent a re-run of the 1970s.
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