Bank of England's Andrew Bailey: UK is 'on track' to tame inflation - reports

‘Pronounced’ disinflation period

Bank of England governor Andrew Bailey has said the UK is “pretty much on track” to quell inflation.

Bailey said the UK is now in a "pronounced period" of disinflation in a speech given at the Institute of International Finance in Washington DC, according to reports from the FT. Following the higher than expected inflation figures from the US, Bailey explained that "there is more demand-led inflation in the US", while "European inflation dynamics are somewhat different". He added that there will be a steep decline in next month's UK inflation figures. Bank of England's Andrew Bailey: Rate cuts are 'in play' for MPC meetings this year Bailey's comments follow the release of March's...