Every central banker dreams of their ‘whatever it takes‘ moment, a reference to then ECB President Mario Draghi’s 2012 commitment to preserve the euro.
Bank of England Governor Andrew Bailey gave it a good go today. Having seen his reputation eroded by a perception the Bank has been too slow to respond to rising prices, he declared that “returning inflation to its 2% target remains our absolute priority, no ifs, no buts.” Of course, this will have consequences.
