The BOE in a speech is saying:
- Important for BOE and monetary policy to stand firm against the risk of persistent inflationary pressure
- Concerned for me is the risk that if price rises becomes embedded monetary policy would have to be tighter for longer
- Latest signs of activity suggest the UK is already slowing down
- Signs of a slowdown do not imply less tightening given strength of labor market, rise in inactivity
- Supply side stresses risk persistent inflationary pressure
