Andrew Bailey says ‘correct to think in those terms’ as he denies MPC ‘bottled it’ by keeping increase on hold
The governor of the Bank of England has signalled interest rates will need to rise towards 1% in the coming months as he denied policymakers “bottled it” by failing to impose an increase on Thursday to tackle rising inflation, defying expectations.
Speaking to BBC Radio 4’s Today programme on Friday, Andrew Bailey said interest rates would rise when a clearer picture emerged about the end of the furlough scheme and unemployment.
