Don’t over-react to temporary jump in inflation, says Bailey ...Qatar

Bank of England governor Andrew Bailey said yesterday it was important not to over-react to a rise in inflation that was likely to prove temporary during Britain’s economic recovery from the Covid-19 crisis. Echoing the message from the BoE’s June policy meeting last week, Bailey said the reasons the central bank thought inflation would not prove to be persistent were “well-founded”. “It is important not to over-react to temporarily strong growth and inflation, to ensure that the recovery is not undermined by a premature tightening in monetary conditions,” he said in an annual Mansion House speech to leaders of the financial services industry. Bailey added that the BoE would watch carefully

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Don’t over-react to temporary jump in inflation, says Bailey ...Qatar

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