Inflation & Prices
BOE Governor Warns UK Has a ‘Long Way To Go’ on Inflation Fight
Andrew Bailey during the Monetary Policy Report news conference in the City of London, UK, on Thursday.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Bank of England Governor Andrew Bailey warned UK households that there was still a “long way to go” before the cost-of-living crunch is brought under control.
The central bank chief said that while inflation is likely to fall this year, the risks around that forecast are to the upside and that it’s too early to declare victory in the battle against soaring prices. His remarks followed a half-point increase in bank’s key rate to 4%.