Off The Wire
BoE's Bailey sees strengthening case for rate rise
LONDON, Sept 27 (Reuters) - Bank of England Governor Andrew Bailey said on Monday that he and other members of the Monetary Policy Committee saw a growing case to raise interest rates, echoing a statement published by the central bank after last week’s policy decision.
‘All of us believe that there will need to be some modest tightening of policy to be consistent with meeting the inflation target sustainably over the medium term,” Bailey said in a speech to be delivered to the Society of Professional Economists.
‘Recent evidence appears to have strengthened that case, but there remain substantial uncertainties and we are monitoring the situation closely,” he added. (Reporting by David Milliken, William Schomberg and Andy Bruce Editing by William Schomberg)