BoE’s Bailey says stronger rates response needed to fight inflation

Posted on October 15, 2022Comments Off on BoE’s Bailey says stronger rates response needed to fight inflation

© Reuters. FILE PHOTO: Governor of the Bank of England, Andrew Bailey, speaks during the Bank of England’s financial stability report news conference, at the Bank of England, London August 4, 2022. Yui Mok/Pool via REUTERS/File Photo

WASHINGTON (Reuters) – Bank of England Governor Andrew said on Saturday that inflationary pressures might require a stronger interest rates response from the central bank than it had envisioned in August.

“We will not hesitate to raise interest rates to meet the inflation target,” Bailey said at an event on the sidelines of the International Monetary Fund Meetings in Washington.

“And, as things stand today, my best guess is that inflationary pressures will require a stronger response than we perhaps thought in August.”

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Comments Off on BoE’s Bailey says stronger rates response needed to fight inflation