Infotech

Bank of England ready to act on inflation



Posted on Oct 18, 2021, 3:09 PMUpdated Oct 18, 2021, 3:14 PM

Concern is mounting on the side of the Bank of England in the face of the rebound in consumer prices. Its governor, Andrew Bailey, hinted Sunday that a monetary turn of the screw could come faster than expected, amid soaring energy prices. “Monetary policy cannot solve supply-side problems – but it will and must act if we see a risk, especially for inflation over the medium term,” said the Governor of the Bank of England (BoE), during a debate on monetary policy.

Andrew Bailey confirms recent remarks by Michael Saunders, perceived as a member of the monetary policy committee particularly firm in the face of inflation. The fact that this economist is joined by the governor of the central bank has raised expectations of monetary tightening, as the next meeting of the committee is held on November 4.

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