DAILY MAIL COMMENT: Floundering Bank of England governor needs to grip the tiller 

They say that when a ship is fighting desperately against a storm, the time to panic is when the captain appears resigned to the inevitable.

If that is the case, then Bank of England Governor Andrew Bailey would have had most people manning the life rafts long ago.

As the man in charge of Britain’s monetary policy, Mr Bailey has one core role: To keep prices under control.

With the Bank this week predicting inflation will hit a terrifying 13 per cent by the end of the year, even his most ardent supporter would admit it is a task he is failing miserably.

For the Governor to simply shrug his shoulders and blame inflation on the war in Ukraine just won’t wash.