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MarketsEconomicsBOE Chief Sees ‘Apocalyptic’ Risk From Soaring Food PricesAndrew Bailey says a series of shocks are buffeting economyRemarks respond to criticism BOE was slow to act on inflationWATCH: “The one I’m going to sound rather apocalyptic about is food,” Bailey says.Source: BloombergByReed Landberg and Lizzy Burden+FollowMay 16, 2022, 2:59 PM UTCUpdated onMay 16, 2022, 5:40 PM UTCFollow us at @BloombergUK and on Facebook for the latest news and analysis.Bank of England Governor Andrew Bailey said a surge in food costs could have “apocalyptic” consequences for the poorest people in society and the global economy.
