Bailey says BoE will act forcefully on inflation

Bank of England Governor Andrew Bailey has said the MPC will act forcefully if inflationary pressures persist.

Speaking on 12 July, Bailey said bringing inflation back down to the 2% target sustainably is the job of the Bank of England, “no ifs or buts”. He also added that, “we want people to see that there are more options on the table than another 25 basis points.”

The talk came after comments by Bailey on Monday when he said he still thought that inflation was likely to fall sharply next year, in line with forecasts the Bank made in May.