Andrew Bailey explains Threadneedle Street’s decision to increase interest rates by 0.5% to 3.5%, in what is the ninth consecutive rate hike. Citing persistently high inflation caused by external issues such as supply chain disruptions and the Ukraine war, as well as domestic labour market shortages, the governor said the Bank was seeing the first ‘glimmer’ that inflation was beginning to come down. ‘But there is a long way to go,’ he added.
Asked if rates were likely to increase again, he said he would not speculate. ‘There is a lot of information we’ll get before we get to that point.’
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
