The Bank's job is to make sure that doesn't turn into sustained inflation above our 2% target.
Andrew Bailey: “The Bank's job is to make sure that doesn't turn into sustained inflation above our 2% target.”
Editor's note · Context
Bank of England governor on inflation target
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The UK economy is an open economy relative to others, which means we have to spend more time considering the effect of the broader world.
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.
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