Economics

Bailey Signals BOE Has Abandoned Hard Guidance for Rates Policy

Andrew Bailey speaking at The Cambridge Union in Cambridge, U.K., on Nov. 25.
Photographer: Hollie Adams/Bloomberg

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By Philip Aldrick

November 25, 2021 at 6:47 PM UTC

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Bank of England Governor Andrew Bailey signaled that policy makers have effectively abandoned forward guidance as a way of guiding investors about the likely path of interest rates.