Prime Minister Rishi Sunak has defended the Bank of England’s decision to raise interest rates to combat inflation. He stated that there is no alternative to stamping out inflation and urged Britons to “hold our nerve” and stick to the plan. Sunak expressed his total support for the central bank’s actions and emphasized that inflation is the enemy of the people. Meanwhile, BoE Governor Andrew Bailey emphasized the necessity of dealing with inflation and returning it to the 2 percent target. Chancellor of the Exchequer Jeremy Hunt also voiced support for the bank’s decision and highlighted the destabilizing effects of high inflation. In response to concerns about mortgage affordability, the chancellor met with major lenders to discuss measures to alleviate the mortgage crisis. The lenders agreed to provide more flexibility to borrowers by allowing interest-only payments and mortgage term extensions. They also committed to a minimum 12-month period before repossession in extreme cases. The opposition Labour Party called for more extensive support to struggling mortgage holders, but Sunak and Hunt dismissed the idea of financial intervention for fears of exacerbating inflation. Labour proposed a five-point plan, but critics argued that it would mostly require lenders to do things they are already doing voluntarily.