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Oral evidence: Bank of England Monetary Policy Reports, HC 143

· Andrew Bailey, Governor of the Bank of England (United Kingdom)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, growth, investment and productivity, labour markets and jobs

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· Andrew Bailey Wiki · Bank of England WikiOral evidence: Bank of England Monetary Policy Reports, HC 143

ContextHearing of the Governor and members of the Monetary Policy Committee before the House of Commons Treasury Committee on the Monetary Policy Report.

Why it mattersBailey tells MPs that rates are near their peak as housing weakens.

Problems raised
  1. Inflation remains well above target.
  2. Housing investment and activity are weak.
  3. Tightening's effects on the economy are uncertain.
Solutions proposed
  1. Keep policy restrictive enough to bring inflation down.
  2. Monitor housing and labour markets.
  3. Explain decisions to Parliament.
Read full speech on committees.parliament.uk ↗

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