BoE Governor Andrew Bailey said the central bank has options to act “forcefully” to tackle inflation if needed. “There will be circumstances in which we will have to do more. We’re not there yet in terms of the next meeting. We’re still a month away, but that’s on the table,” Bailey said. “But, you shouldn’t assume its the only thing on the table.”
Bailey also noted that the UK economy was “very clear” at a turning point and starting to slow. As inflation is shifting from goods and into energy and food prices, BoE would watch the development “very, very carefully”.
