BOE's Bailey: We are not signalling what will come next on rates

• We are not signalling what will come next on rates
• We are not seeking to precipitate a recession
• It was absolutely imperative that the BOE raised rates today
• The pattern of persistence and sticky 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 is seen in other countries too
• We cannot continue to have the current level of wage increases
• We cannot have companies building profit margins that cause prices to rise at their current rates

The market is pricing a 33% chance of another 50 bps hike at the next meeting on August 3 with the remainder at 25 bps. The market sees a terminal rate of 6.00% with a 45% chance of going to 6.25%. That could make for a rough winter for UK mortgage-holders.