BOE Governor Says Rates Will Rise Again If UK Inflation Persists
- Bailey urges price-setters not to let inflation persist
- UK central bank raised rates by a quarter-point this week
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Bank of England Governor Andrew Bailey said UK interest rates will have to go up again if prices keep rising in the economy.
After pushing through another quarter-point increase in the benchmark lending rate to 4.25% on Thursday, Bailey on Friday made a plea to companies and people setting prices to take note of the outlook for a sharp fall in inflation starting this summer.