BOE's Bailey: Nobody should read a 75 basis points as a new normal

BOE's Bailey is on Bloomberg and says:

• nobody should read 75 basis points as a new norm for rate hikes
• some evidence that labor demand is beginning to slow

Labor demand in the UK is a slowing but inflation still remains high and that is the problem that the Bank of England is addressing. Inflation becomes the first enemy as too high inflation will lead to weaker employment as well.