Bank of England governor defends rate hike ahead of looming recession

Bank of England governor Andrew Bailey warns price rises would be long-term if Bank did not act. …

In response, Mr Bailey said: “If you go back two years… given the situation we were facing at that point in the context of Covid, in the context of the labour market, the idea that at that point we would have tightened monetary policy, you know I don’t remember there were many people saying that.”

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