BOE’s Bailey: Won’t be rushed into making decisions on raising interest rates despite rising inflation
|Bank of England (BOE) Governor Andrew Bailey's comments contrast with the previous ones from Deputy Governor Dave Ramsden, rejecting the rush to making decisions on raising interest rates despite news of rising inflation, per Reuters.
The UK’s Consumer Price Index (CPI), published on Wednesday, rose past 2.2% YoY expectations to 2.5%.
Key quotes
Regarding Wednesday's inflation number, Bailey told Business Live in an interview published on Thursday, per Reuters:
Yes, it was higher than we thought it would be. What we will have to do, again, is go through all the evidence and assess to what extent we think the sorts of things that underlie that are likely to be transitory.
GBP/USD stays on the recovery mode
GBP/USD picks up bids to 1.3838, down 0.16% intraday, heading into Thursday’s London open. The news fails to defy the pair buyers as traders await UK jobs report.
Read: GBP/USD pares weekly losses above 1.3800, UK employment data, PM Johnson eyed
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