Interest rates: 'We had to take action' says Bank of England

The Governor of the Bank of England has explained the move to increase interest rates to 0.25 per cent, despite uncertainty over the impact of the Omicron Covid variant.

Andrew Bailey said: "We have to take the action that we think will do the job to address and tackle inflationary pressure … we just have to do that I'm afraid." Report by Buseld.

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