, Columnist
This BOE Is Made for Hiking and That Is What It’ll Do
Bailey leaves little doubt rates will rise soon, but he has to get his messaging out smoothly because markets are already overreacting.
Are those doves?
Source: Fox Photos/Hulton Archive
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Clunk!
With all the subtlety of a dropped hammer, Bank of England Governor Andrew Bailey dispelled what little doubt was left that U.K. interest rates would be raised before the end of this year. The central bank would “have to act” to reduce inflationary pressures, he declared at an online panel held on Sunday by the Group of 30, an organization of financiers and academics.