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Podcast: Beyond Currency
Episode: 30 June 2023 - Tough at the top for BoE Chief Economist
Description: Andrew Bailey has defended the fifty point rate hike agreed by the MPC last week, while at the same time tried to explain to the market that it is not the Central Bank’s goal to see unemployment rise, although the committee is well aware that firms will need to “rationalize” their workforce as they experience a drop-off in demand.
Headline inflation is still “far too high”, and the Bank believed that it had to make a statement of serious intent when the May price data was released.
Having voted for a twenty-five pointy hike last week, Silvana Tenreyro, speaking at the ECB...