Bank of England Governor Andrew Bailey said it is too soon for the UK to declare victory in the inflation battle — the “last mile” will require a prolonged period of restrictive interest rates
said it is too soon for the UK to declare victory in the battle against inflation and that the “last mile” will require a prolonged period of restrictive interest rates.
“It’s the last mile which obviously is where policy is really doing the work, and we’re going to have to see policy stay restrictive,” he said Thursday in an interview with. “It’s going to have to remain restrictive to have this effect of bringing inflation down, and particularly next year.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of England governor says cautious approach needed after ‘unwelcome surprises’ in inflation dataBank of England Governor Andrew Bailey said Thursday that the central bank remains cautious in its battle to tame inflation.
Read more »
Bailey speech: I don't think there was a case for a 50 bps rate rise todayAndrew Bailey, Governor of the Bank of England, comments on the policy outlook and responds to questions from the press following the Bank of England'
Read more »
Bailey speech: Projection for economic activity has weakened since MayAndrew Bailey, Governor of the Bank of England, comments on the policy outlook and responds to questions from the press following the Bank of England'
Read more »
Bank of England rate dilemma holds little mysteryGovernor Andrew Bailey must decide on Thursday whether to raise borrowing costs by a quarter or half a percentage point. The choice will make little difference to the long-term path of interest rates. Inflation is falling and monetary policy alone cannot boost sluggish UK growth.
Read more »
Bank of England May Slow Pace of UK Rate HikesThe Bank of England is likely to boost interest rates again on Thursday, but a slowing in the pace of inflation may give policymakers scope to scale back the size of hikes.
Read more »
Bank of England set to raise rates for 14th time in a rowThe Bank of England is expected to raise interest rates to a 15-year high of 5.25% from 5% on Thursday, though there is a risk of a repeat of June's surprise half-point increase as inflation remains the highest of the world's major economies.
Read more »