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Bank of England governor ‘very uneasy’ about rising inflation
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The prospect of a pre-Christmas increase in interest rates has loomed larger after the Bank of England governor told MPs he was troubled by the UK’s rising inflation rate.
Giving evidence to the Commons Treasury select committee, Andrew Bailey said he was “very uneasy” about the rising cost of living and had come close to voting for an increase in borrowing costs when Threadneedle Street last met to decide on interest rates earlier this month.
The governor sided with the majority when the Bank’s monetary policy committee (MPC) voted 7-2 to keep rates on hold at 0.1% but made it clear he could change his mind at the next meeting in December.
“All meetings are in play,” he said, referring to the possibility that the Bank could start to tighten
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