Andrew Bailey: “I didn’t ever ask to be a politician, but I am a public servant, and I knew I wanted to serve the people of the state of…”

I’m comfortable to wait and see. Three of my colleagues thought it was already time to act.

If you come out of the session talking about an insurance hike, I’m afraid you haven’t understood what we said.

Inflation has fallen faster than expected but the conflict in the Middle East continues to mean high and volatile energy prices. That will cause inflation to rise again this year.

Ultimately the interest rate is set to match the needs of the UK economy, and that they do not rely at what the Federal Reserve does or what the European Central Bank does to show them the path.