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Bank of England boss defends rise in interest rates
Video Credit: ODN
Published on May 5, 2022 - Duration: 00:57s
Bank of England boss defends rise in interest rates
The Governor of the Bank of England has defended today's rise in interest rates, which will put further pressure on households, saying it was necessary amid "a series of unprecedently large shocks" to the economy.
Andrew Bailey said: "There are many people out there telling us we should do more, and we don't think that's appropriate because there are risks of further inflation … the thing that would be much worse is if inflation kept on going up." Report by Buseld.
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Bank of England
Central bank of the United Kingdom
The governor of the Bank of England has signalled the UK is still on course for an interest rate cut as official figures show a further easing in the pace of..
Credit: Sky News - Published 1 week ago
Andrew Bailey (banker)
British central banker (born 1959)
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