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Bank of England's Bailey: Inflation Figures No Game-changer
Bank of England Governor Andrew Bailey has responded to January's inflation data surprise by warning that the numbers do not change the outlook presented at the Bank's last policy meeting. Speaking in an appearance before members of the House of Lords, Bailey said the news inflation remained static at 4.0% in January was "welcome". At 4.0% year-on-year, UK inflation undershot the Bank's forecast of 4.1% made at the last Monetary Policy Committee meeting. But, Bailey maintained the Bank's recent guidance that interest rates would remain at current levels for some time, warning services inflation - which rose from 6.4% ... (full story)