Governor of the Bank of England on inflation, interest rates and recession

The rate of inflation remains on track to fall rapidly from the spring although there remains a risk of the UK’s tight labour market creating more inflationary pressures forcing the bank to intervene by rising interest rates, the Governor of the Bank of England has said.
On an official visit to South Wales, his last before the Bank’s Monetary Policy Committee makes its February decision on the base rate (currently 3.5%), Andrew Bailey said the central bank still believes the UK economy will enter into a recession which, although shallow, will be contracted.
He was not able to comment on where the bank sees interes …
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