The Bank of England has been targeted by an inflation-themed art installation in the City of London. A satirical art piece appeared across the road from the central bank’s office on Threadneedle Street over the weekend.
The installation featured a black Canon printer on a silver-beaded pedestal, surrounded by banknotes and enclosed in a transparent display case. The case, supported by a red frame, read: “In case of emergency inflation. Break Glass.” A pair of black handcuffs was also placed on the pedestal's base.
The art piece appears to satirise quantitative easing, a Bank of England strategy involving the creation of new money to purchase government bonds. This method aims to inject liquidity into the financial system to lower interest rates, encourage borrowing, and stimulate spending.
The stunt emerges as inflation fears in the UK are reportedly increasing following economic turmoil from the Iran war. The latest inflation index report from BDO showed a reading of 103.65, up from 102.18 in August, marking its highest reading since June 2023.