Want to create an interactive transcript for this episode?
Podcast: Beyond Currency
Episode: 14 June 2023 - Wage pressure expected to continue
Description: The Bank of England appears certain to hike rates when the MPC meets next week. Andrew Bailey, the Bank’s Governor virtually confirmed the need for still higher rates during his testimony to the House of Lords.
He confirmed his view that inflation will eventually fall back close to the Government’s target of 2%, despite it taking significantly longer than anyone at the Central Bank had first imagined.
Bailey has received criticism from MPs in the past for being too timid in dealing with rising inflation. While other G7 Central Banks have increased the size of the increments of their own...