In a video release after today’s 50bps rate hike, BoE Governor Andrew Bailey said, “inflation is still too high”, and “recent data has shown us that further decisive action is needed”.
“If we don’t raise rates now, high inflation could stay with us for longer and inflation hits all of us, particularly those who can least afford it,” he warned.”
“Raising interest rates is the best way we have of getting inflation back down to the 2% target.”
https://twitter.com/bankofengland/status/1671862096831627264
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