BoEs Bailey speaks to lawmakers about inflation

div classBodysc17zpet90 cdBBJodivpLONDON Reuters – Bank of England Governor Andrew Bailey and other top officials from the British central bank spoke to lawmakers on Monday about this months decision to raise interest rates in the face of an inflation rate they think will hit 10 this year. p

pGOVERNOR ANDREW BAILEY ON INFLATIONpdivdivdiv classBodysc17zpet90 cdBBJodiv

p“I should emphasise that I do not feel at all, obviously, happy about this. This is a bad situation to be in.” p

pGOVERNOR ANDREW BAILEY ON WHETHER HE COULD HAVE DONE THINGS DIFFERENTLYp

pI don‘t think we could. I don’t think we could foresee a war in Ukraine. Another factor that were dealing with at the moment, is a further leg of COVID, which is affecting China.p

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pp Reporting by Farouq Suleiman, editing by William Jamesp

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