BOE's Bailey: We are approaching the point when we should be able to pause

Fed's Bailey speaking to Bloomberg it says:

• We are approaching the point when we should be able to let level of rates rest
• We have not yet seen evidence that allows us to be sure rates can stay on hold

The Bank of England Bank of England The Bank of England (BoE) functions as the United Kingdom’s central bank and is one of the key drivers of monetary policy in Europe. As one of the world’s oldest central banks and established in 1694, the BoE is owned by the British government. Its central mandate involves maintaining and targeting interest rates while using other tools to help either stimulate or contract the economy. Moreover, the BoE is responsible for producing the UK’s bank notes as well as supervising key bank payment sy The Bank of England (BoE) functions as the United Kingdom’s central bank and is one of the key drivers of monetary policy in Europe. As one of the world’s oldest central banks and established in 1694, the BoE is owned by the British government. Its central mandate involves maintaining and targeting interest rates while using other tools to help either stimulate or contract the economy. Moreover, the BoE is responsible for producing the UK’s bank notes as well as supervising key bank payment sy Read this Term raised rates to 4.5% from 4.25% today.

• Hike marks the 12th consecutive increase
• Bank Rate at highest level since 2008
• Bailey said BoE will "stay the course" on inflation
• Growth forecast received biggest upgrade since 1997
• BoE no longer predicts a recession
• Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term expected to fall more slowly than previously anticipated, mainly due to persistent food price increases
• Policymakers voted 7-2 for May's increase, in line with economists' expectations
• Investors pricing in a peak of almost 5% by autumn
• BoE predicts inflation will not return to its 2% target until early 2025