Andrew Bailey, Bank of England Governor, has reacted to claims that he is an ‘unreliable partner’. This was after interest rates had not been raised earlier in the month.
“Look, this job requires you to be a good samaritan. That’s a cheap shot. Bailey admitted that the joke was not something he would buy. Bailey made this comment about Bailey’s jibe at Mark Carney’s predecessor after rumors of him flip-flopping interest rates.
‘Unreliable boyfriend’: Bank of England Governor Andrew Bailey hit back at the claim after interest rates were not raised earlier this month
‘To be clear, at no point did I, or anybody, say, ‘And by the way, we’re going to raise interest rates in November,’ Bailey said in an interview with The Sunday Times.
But, the Governor indicated that the Bank would have to act if “febrile” inflation continues. Many predict that the Bank will hike rates next month.
He said that rates could rise “if the economy develops as the forecasts indicate”.
These comments were made by EY ITEM Club analysts as they warned of a slower recovery due to inflation, rising energy prices and problems in the supply chain.