"We believe inflation will begin to fall quite rapidly before the summer but, as yesterday's release for February showed, we need to see that actually happen." (Writing by William Schomberg; editing by Sarah Young)
Reuters Messaging: william.schomberg.reuters.com@reuters.net)) LONDON, March 23 (Reuters) - Bank of England Governor
Andrew Bailey said on Thursday the central bank believed
inflation was set to fall quickly but data this week, which
showed a surprise acceleration in price growth, meant the BoE
wanted to see evidence of it happening.
"We have raised rates a lot already," Bailey said in a
video clip published by the BoE after it raised interest rates
for the 11th time in a row.
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