The Bank of England will not hesitate to change interest rates “by as much as needed” to get inflation under control, Governor Andrew Bailey has announced.
"The Bank is monitoring developments in financial markets very closely in light of the significant repricing of financial assets," the statement said.
"The MPC will not hesitate to change interest rates as necessary to return inflation to the 2% target sustainably in the medium term, in line with its remit," it added.
