Don't blame the Bank. Blame the Other "B"

Right after the referendum, the value of the pound fell dramatically from which we have never recovered.  This raised import prices and consequently consumer prices.

So, would a reversal of Brexit produce a reverse effect on the pound, i.e., would it raise the value of the pound and conversely, reduce consumer prices?


uk.yahoo.com/finance/news/brexit-cranks-inflation-don-t-060028621.html

It’s Brexit that cranks up inflation. Don’t just blame the Bank
William Keegan

The poor old Bank of England is now being blamed for the UK’s stubbornly high rate of inflation compared with our European (former!) partners and the rest of the Group of Seven leading industrial countries. It is all the Bank’s fault, we are told. Its job is supposed to be controlling inflation and it keeps getting it wrong.

The truth that dare not speak its name in certain circles is that the reason why inflation is so much higher here than in other countries is Brexit; the referendum was followed by a dramatic fall in the pound, which raised all import prices, not least food from the EU. Not only did this have nothing to do with the Bank, but the governor at the time, Mark Carney, warned forcefully against Brexit.

With its discouraging impact on the supply of EU workers on which so many British businesses depended, Brexit has aggravated inflationary pressures further, on top of the direct effect of higher import prices. It is not obvious to me that raising interest rates is the appropriate policy to deal with this: what is needed is nothing less than the reversal of Brexit.

Let’s face it. Brexit is the biggest act of self-harm this country has imposed upon itself since the English civil war of 1642–51. The Tories have severely damaged themselves and the nation they were supposed to govern.

So what is the Labour party doing? Running scared.

I should be very surprised if Labour did not win the next election with a working majority. However, ..... If Starmer refuses to shoot at an open goal, and fails to come out strongly with a policy of re-entering the single market on day one, he will inherit an economic disaster that is almost certain to inhibit the achievement of his many other laudable ambitions.

You need to take lessons in technical English and Basic Comprehension.  

So.  Everybody agrees that we should all buy indiscriminately.  No selection?  No criteria?  At All?

All countries import (or buy) goods and commodities discriminately.  They do not buy from just anywhere.  They set criteria and choose their trading partner -- pricing, tariffs, trade barriers, diplomatic relations, trade relations, etc. etc. etc.