Interest rate rise: Bank of England more hopeful on UK economy
Andrew Bailey’s comments come as the Bank raises interest rates to 4.25% to try to combat inflation. …
The Bank repeated language that further rises would be required “if there were evidence” of more inflationary pressures. The Bank’s discussions suggested that some of that pressure, for example from wage growth, was declining even after Wednesday’s shock inflation number. The next meeting in May is now a key point, where new quarterly forecasts for the economy and inflation could underpin a pause in rate rises.
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