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BOE Rejects Criticism It Acted Too Slowly on Inflation

  • UK central bank has fallen behind Fed on tightening policy
  • Front runner to succeed Boris Johnson seeks probe of BOE remit
Andrew Bailey, on Aug. 4
Andrew Bailey, on Aug. 4Photographer: Hollie Adams/Bloomberg
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Bank of England Governor Andrew Bailey denied that officials allowed inflation to get out of control by acting too slowly, saying interest-rate increases a year ago would have damaged the recovery from the pandemic.