Bailey Warns High Energy Prices Threaten Rate Hold
Bank of England Governor Andrew Bailey warned that persistently high energy prices will make it harder to leave interest rates on hold. Officials noted rising inflation risks.
Bank of England Governor Andrew Bailey warned Friday morning that persistently high energy prices will make it harder to leave interest rates at 3.75%. The warning signals a sharp pivot for the central bank as energy costs surge from the regional conflict in Iran. Higher borrowing costs threaten to complicate economic pressures ahead of the upcoming national budget.
