http://www.bbc.co.uk/news/business-44065472
Bank of England has one mandate, that is to keep the CPI inflation rate at 2% (to devalue the value of the pound at 2% per year) but with CPI at 2.5% they have chosen to keep the base rate at 0.5% instead of increasing it as that would be too sensible and also what they're supposed to do, being independent and all that (stop laughing at the back, you boys!).
