Andrew Bailey: We must ensure inflation drops back down
Governor of the Bank of England, Andrew Bailey, announces that interest rates would increase by 0.25%. He says that low and stable inflation is the “foundation of a healthy economy,” and that they must seek to get inflation back down to the 2% target. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00 Our job is to make absolutely sure that inflation falls all the way back
00:03 to the 2% target and stays low.
00:06 So today we've increased bank rate by 0.25 percentage points to 5.25%.
00:12 Low and stable inflation is the foundation of a healthy economy.
00:18 High inflation hurts the least well off the most.