Video

Andrew Lilico, managing director of Europe Economics, talks with Bloomberg's Naga Munchetty in London about today's minutes of the Bank of England's May 7-8 rate-setting meeting, inflation in the U.K. and challenges facing U.S. and European central banks. The BOE voted 8-1 to keep the benchmark interest rate at 5 percent this month as the majority of policy makers argued that a reduction risked letting inflation get out of control.