BOE’s Bailey Sees ‘Good News’ in UK Inflation Figures

From bnnbloomberg.ca

Bank of England Governor Andrew Bailey said he saw “good news” in UK inflation figures that ticked down from a 41-year high, but that the central bank has more to do to prevent a wage-price spiral. Speaking after policy makers lifted their key rate a half point to 3.5%, the highest since 2014, Bailey said the risk is that inflation sticks around longer that the BOE is anticipating. “We think we have seen possibly the first glimmer — with the figures we have seen this week — that (inflation) is not only beginning to come down, but it’s a little below where we thought it would be,” Bailey said in a ... (full story)