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BOE is prepared to raise rates again if needed
*BOE IS PREPARED TO RAISE RATES AGAIN IF NEEDED, BAILEY SAYS
— Cable FX Macro (@cablefxmacro) May 23, 2022
*BOE'S BAILEY: COVID RESPONSE HASN'T STOKED INFLATION
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BOE GOV. BAILEY: TIGHTENING MUST TAKE INCOME SHOCK INTO ACCOUNT.
— Breaking Market News (@financialjuice) May 23, 2022
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Opening remarks at OeNB monetary policy panel by Andrew Bailey
This is a time of very large economic shocks, and particularly very large external shocks, most recently from Russia’s invasion of Ukraine. I say that as someone who wholeheartedly supports the cause of Ukraine and the assistance we must give. We are in a period of rapidly rising energy, goods and some food prices. These are the most visible prices too. This is by far the main cause of high inflation, and is painful, particularly for those less well off. What can and should monetary policy do? There is a very important distinction between: whether monetary policy can anticipate and stop the effects on inflation of ... (full story)
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