Bailey speech: Putin is putting the UK into recession, not the BOE MPC

Bank of England (BOE) Governor Andrew Bailey is testifying alongside several Monetary Policy Committee (MPC) members on inflation and the economic outlook before Parliament's Treasury Committee on Wednesday.

Key quotes

Putin is putting the UK into recession, not the BOE MPC

There is a very real risk that high headline inflation feeds into price-setting persistence.

Short-run inflation expectations have risen substantially, not necessarily surprising.

Must be very alert to upward movement in medium- and long-term inflation expectations.

more to come ...