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BOE Governor Says UK Interest Rates May Have to Rise Again
Bank of England Governor Andrew Bailey warned the central bank may have to raise interest rates again and that food and energy costs remain an upside risk to the inflation outlook. Bailey said the central bank’s policy makers are “on watch for further signs of inflation persistence that may require interest rates to rise again,” according to a text of a speech he delivered to the National Farmers’ Union on Monday. The comments were the most detailed rebuttal yet from the BOE against bets that officials will cut rates three times next year. A darkening economic outlook and the risk of recession have prompted ... (full story)