BoE Governor Andrew Bailey indicated that a larger rate hike could be delivered at the upcoming meeting in November. He said, “we will not hesitate to raise interest rates to meet the inflation target… And, as things stand today, my best guess is that inflationary pressures will require a stronger response than we perhaps thought in August.”
Regarding new Finance Minister Jeremy Hunt, he said, “I can tell you that there was a very clear and immediate meeting of minds between us about the importance of fiscal sustainability and the importance of taking measures to do that.”
