Central Banks
Bank of England’s Bailey Says Risk of Persistent Inflation Is Receding in UK
- Andrew Bailey says signs of inflation persistence have eased
- Investors expect slow steps to looser monetary policy in UK
Andrew Bailey
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Bank of England Governor Andrew Bailey said it is “too early to declare victory” over inflation but the risks of persistent inflation appear to be receding, a sign he’s growing more confident about further interest rate cuts.
Bailey said the “second round inflation effects appear to be smaller than we expected” and that “we are now seeing a revision down in our assessment of that intrinsic persistence, but this is not something we can take for granted,” according to a text of a speech he’s due to deliver Friday in Jackson Hole, Wyoming.