LONDON, Nov 21 — Bank of England Governor Andrew Bailey said his concern on the inflation outlook is that it could be “elevated for longer” but there is also a chance that inflation does not prove as persistent as feared.
“You’re in a fairly febrile world ... [the inflation picture] is two-sided,” he said in an interview with the“There are risks both ways. Obviously, our concern would be that if it gets into second-round effects, it could be elevated for longer.” “If the economy evolves in the way the forecasts and reports suggest, we’ll have to raise rates. Which, by the way, is entirely consistent with what I said in October,” he said.
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