Remarks by BOE governor, Andrew Bailey
- Denies that BOE is being "casual" about inflation
- BOE watching the economy closely
- Yesterday's inflation number was higher than we thought it would be
- Need to go through all evidence to assess to what extent it is likely to be transitory
- Full interview
He points out supply and demand imbalances as a key factor driving the recent surge in inflation, adding that "we expect that to in a sense balance out and revert". Cunliffe yesterday highlighted that there will be a firmer take in August, so we'll see.
