Sunday, 21 November 2021 (YJC)_ The Governor of the Bank of England, after the inflation rate reached 5%, expressed concern about the outlook for inflation in this country.
Andrew Bailey, the Governor of the Bank of England, expressed concern about the outlook for inflation in this country.
The Bank of England predicted earlier this year that inflation could reach 5 percent in the second quarter of next year due to rising energy prices and supply disruption amid the global economic recovery from the Corona epidemic, more than doubling The official rate is targeted.
In an interview with the Sunday Times, the British official expressed concern about wage and labor market bargaining, which he said would have a significant impact on inflation.
He explained:
If the economy develops according to the forecasts and reports, we should raise interest rates.
Interest rates in the UK have reached a four-year high of 4.2%.
An economist at the Bank of England said on Friday that bank interest rates were likely to rise next month, but no final decision had been made.