Women trust the Bank of England less than men – as they feel the effects of inflation first, a study has found.
They tend to do the weekly food shop so notice rising prices sooner, it showed. A lack of understanding of monetary policy and lower financial confidence also dented women’s trust in the Bank.
The Oxford University findings come as the Bank tries to keep a lid on inflation amid fears it will climb above 3 per cent later this year.
The Bank, which aims to maintain inflation at 2 per cent, hiked rates sharply after it hit a four-decade high of 11.1 per cent in 2022, causing pain to borrowers.
The study, based on the Bank’s inflation attitudes survey, found that women are inclined to budget, shop around to save money and increase savings when prices rise. But men are more likely to ask for a pay rise to combat rising inflation.
Authors Michael McMahon and Lovisa Reiche said: ‘Women feel more financially squeezed, while men may try to proactively avoid financial losses.’