BoE Governor Andrew Bailey said in a speech, “I would caution against suggesting either that we are done with increasing Bank Rate, or that we will inevitably need to do more”.
“Some further increase in Bank Rate may turn out to be appropriate, but nothing is decided. The incoming data will add to the overall picture of the economy and the outlook for inflation, and that will inform our policy decisions.,” he added.
Regarding the economy, he said that data since February meeting, is that the economy is “evolving much as we expected it to”.
“Inflation has been slightly weaker, and activity and wages slightly stronger, though I would emphasise ‘slightly’ in both cases,” he said. “A further set of data will be coming in before our next monetary policy decision later this month.”
