LONDON: Two Bank of England (BoE) officials moved to reinforce signals of an imminent rise in United Kingdom interest rates to curb inflation, with one telling households to brace for a “significantly earlier” increase than previously thought.
Michael Saunders, one of the most hawkish members of the Monetary Policy Committee (MPC), suggested in remarks published that investors were right to bring forward bets on rate hikes. Hours earlier, governor Andrew Bailey warned of a potentially “very damaging” period of inflation unless policy makers take action.