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They had inflation as well, maybe they should have cut tax on gas as well

The whole system is a crock of shit, banks should have money and decide how much they want to set the rates at based on how competitive they want to be - interest rates private banks should have nothing to do with the central bank wankers.

The government are absolutely responsible, inflation was caused by the increased energy costs - the government could have slashed tax on energy which would have a hit on tax takes but would have stopped inflation before it started. Everyone could see inflation was coming because of the...