Public sentiment towards the Bank of England’s moves to set interest rates to control inflation continues to sour, a survey released by the central bank shows.

When asked their opinion of this, the net satisfaction balance came to 6%, which is down from 14% when the public was last asked, at the close of 2021.

This means that the public has gradually been losing faith in the BoE for the last four quarters in a row.

Generally, the public believes that inflation will continue to rise. When asked for expectations for the coming year, the median reply was a rate of 4.3%.

Asked about the year after that, the median answer was 3.2%. And over the long term, the public plans for an inflation rate of 3.3%.

Earlier this month, the Centre for Economics and Business Research said that quarterly inflation could rise to 8.7% in the second quarter of this year and remain above 7% until the start of 2023.

And when asked about interest rate expectations, 60% of the public believe it will rise over the next 12 months, which 28% of respondents believe is best for the economy – up from 25% the last time this was asked.