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Bank of England will have to act to contain inflation

by Mike Robinson

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© Reuters. FILE PHOTO. Andrew Bailey, Bank of England Governor poses for a photo on March 16th 2020. This was his first day in his new position at London’s Central Bank. Tolga Akmen/Pool via REUTERS

LONDON, (Reuters) – The Bank of England must act in order to ensure that medium-term inflation expectations don’t take root, Andrew Bailey of the BoE said Sunday.

Bailey declared on Sunday that while supply problems can’t be fixed by monetary policies, it must act if there are risks to medium-term inflation or inflation expectations.

He said that the Bank of England had signalled that they would act, during the panel discussion organized by the Group of 30 consultative groups. But of course, that action is in our meetings on monetary policy.

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