Andrew Bailey: MPC ready to hike interest rates before Christmas if inflation keeps rising

Society of Professional Economists speech

Lauren Mason
clock • 3 min read
Bank of England governor Andrew Bailey
Image:

Bank of England governor Andrew Bailey

The Bank of England’s Monetary Policy Committee is prepared to raise interest rates before the year end if inflation continues to rise, according to BoE governor Andrew Bailey.

Bailey, who gave a speech to the Society of Professional Economists at a dinner yesterday evening (27 September), described the UK's current stage of recovery as "the hard yards", with the rate of recovery slowing over recent months and expected to remain sluggish until the "recovery nears its end point". "Milton Friedman and Anna Schwartz wrote in their monetary history of the US that the most notable feature of the revival of the US economy after 1933 was not its rapidity but its completeness," he said. "I, and other MPC members, have used the analogy of a bridge to describe the rol...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Equities

Ken Wotton and Brendan Gulston, co-managers of the LF Gresham House UK Multi Cap Income fund

Five rules for resilience amid rocky markets

Barrage of headwinds

Ken Wotton and Brendan Gulston
clock 04 August 2022 • 5 min read
Chris Hutchinson of Unicorn Asset Management

The Big Interview: What I learned after being dropped from Hargreaves Lansdown's Wealth Shortlist

'I’ve no interest in falling out with people'

clock 04 August 2022 • 6 min read
Darius McDermott, managing director, FundCalibre

FundCalibre elite radar: ASI Global Smaller Companies

'Good contender'

Darius McDermott
clock 01 August 2022 • 4 min read
Trustpilot