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- Bailey speech: Putin is putting the UK into recession, not the BOE MPC
Bailey speech: Putin is putting the UK into recession, not the BOE MPC
Bank of England (BOE) Governor Andrew Bailey is testifying alongside several Monetary Policy Committee (MPC) members on inflation and the economic outlook before Parliament's Treasury Committee on Wednesday.
Key quotes
Putin is putting the UK into recession, not the BOE MPC
There is a very real risk that high headline inflation feeds into price-setting persistence.
Short-run inflation expectations have risen substantially, not necessarily surprising.
Must be very alert to upward movement in medium- and long-term inflation expectations.
Nothing we say today should be taken as a clue to what we will do on rates next week.
more to come ...
Market reaction
GBP/USD is keeping its range around 1.1485, as Governor Bailey testifies. The spot is down 0.23% on the day, at the press time.
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