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Bank of England’s Bailey Says Not His Job to Steer Markets on Interest Rates

  • Bailey spoke in interview with Bloomberg TV on Thursday
  • Investors say BOE misled market on rates before the meeting
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WATCH: Bank of England Governor Andrew Bailey discusses the outlook for BOE policy and says the central bank has to be careful when it comes to inflation.Source: Bloomberg

Bank of England Governor Andrew Bailey said it wasn’t his job to guide financial markets on interest rates, hitting back against criticism that he misled investors in the weeks leading to Thursday’s policy decision.

Speaking after officials defied markets’ expectations by keeping borrowing costs unchanged on Thursday, Bailey told Bloomberg TV’s Francine Lacqua that his remarks on the need to curb inflation before the meeting were “conditional.”