BOE’s Bailey: Inflation is still too high

  • We will keep rates high enough for long enough to return inflation to target
  • OFGEM price cap means we can be confident about energy bills lowering inflation
  • It’s important that services inflation falls steadily over next year
  • There is a considerable way to go on quashing inflation
  • Whether GDP growth is slightly negative or slightly positive won’t impact monetary policy
  • How long restrictive stance will be needed depends on incoming data
  • We have to be mindful of balance of risks between doing too little and too much
  • Events in Middle East create risk of higher energy prices

This article was written by Adam Button at Source