BoE's Bailey: In order to bring down inflation, BoE is prepared to raise interest rates again

Joel Frank Independent Analyst

Bank of England (BoE) governor Andrew Bailey said on Monday that the central bank is prepared to raise interest rates again in order to bring inflation down, reported Reuters. Policymakers can and must take the actions needed to return inflation to target over a period that avoids unnecessary volatility, he added.

The UK is facing a very big negative impact on real incomes caused by the rise in prices of imports, Bailey continued. Bailey added that he rejects the argument that the government's response to the Covid-19 pandemic and BoE's monetary policy let demand get out of hand and thus stoked inflation.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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