2/2, 1:46 PM (Source: TeleTrader)
more TeleTrader news

BoE's Bailey: Further tightening might be needed

Bank of England (BoE) Governor Andrew Bailey said on Thursday, during a press conference following the most recent interest rate decision, that if there is evidence of "more persistent pressures then further tightening of monetary policy might be required."

Bailey warned that there is a possibility that inflation may not decline as the forecast expects and that it is "very early" to say whether the rates have peaked. He explained that "very high inflation" could affect wages and price setting more than was assumed in the main estimates.

The BoE official cautioned that inflation risks are still "more skewed to the upside" and added that it is "too early to declare victory just yet."

Baha Breaking News (BBN) / AY