Bank of England Governor Andrew Bailey won't be rushed into interest rate decision despite rising inflation
Interest rates, JLR and HGV drivers on agenda as Andrew Bailey talks to BusinessLive on Midlands visit
Bank of England Governor Andrew Bailey says he won’t be rushed into making decisions on raising interest rates despite this week’s news of rising inflation.
The Governor spoke to BusinessLive following a virtual visit to Midlands businesses to talk about the issues they are facing as the economy recovers.
He met manufacturers including Jaguar Land Rover as part of his work to understand how businesses are being affected by the Bank’s policies.
Yesterday saw news that the UK’s inflation rate last month soared to its highest for almost three years.
The Office for National Statistics (ONS) said the Consumer Prices Index rose to 2.5% in June from 2.1% the previous month - rising further away from the Bank of England’s 2% target.
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