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Oral evidence: Bank of England Monetary Policy Reports, HC 211

· 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, labour markets and jobs

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· Andrew Bailey Wiki · Bank of England WikiOral evidence: Bank of England Monetary Policy Reports, HC 211

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 about the risk of keeping rates too high for too long.

Problems raised
  1. Rates could be tightened too much.
  2. Wage pressure could sustain inflation.
  3. Risks must be balanced.
Solutions proposed
  1. Weigh the risk of over-tightening.
  2. Watch labour market pressure.
  3. Decide on balance of risks.
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