Supply chain issues’ impact is widening – BoE’s Bailey
The impact of the issues related to the “supply bottlenecks and disruption” continued to broaden out according to surveys, Bank of England (BoE) Governor Andrew Bailey (pictured) underlined on Monday.
In a speech delivered at the Society of Professional Economists Annual Dinner, Bailey stressed that a proper answer “to the inflation pressure” should include a change in the central bank’s interest rate, rather than quantitative easing.
“The rate of recovery has slowed over recent months, and that slowing is continuing,” Bailey warned. Commenting on Britain’s economic outlook, and the challenges it is currently facing, he jokingly asked “when are the locusts due to arrive.”
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