British businesses should consider official forecasts showing inflation will fall this year when setting their prices, Bank of England Governor Andrew Bailey said on Friday.
"When companies set prices, I understand that they have to reflect the costs that they face," Bailey told the BBC.
Bailey went on to say he did not have any evidence that companies were putting prices up more than necessary.to 4.25% on Thursday from 4%, a day after official figures showed an unexpected rise in the annual rate of consumer price inflation to 10.4% in February. "Now I do see encouraging signs. There is evidence of encouraging progress. But we have to be extremely vigilant on that front," he said.
Financial markets on Friday priced in one more BoE interest rate rise this year, taking rates to a peak of 4.5%.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD bulls poke 1.2250 with eyes on BoE’s Bailey, Fed’s preferred inflation gaugeGBP/USD begins the week on a positive footing, renewing its intraday high near 1.2250 while extending the previous two-week uptrend, as fears of US re
Read more »
Halle Bailey praises ‘Little Mermaid’ co-star Melissa McCarthy for helping her advocate for herselfThe actress who plays Ariel in the upcoming release of “The Little Mermaid” on the big screen says she has found her voice on set.
Read more »
Eurovision To Be Beamed Live Into British Cinemas; TikTok Confirmed As Song Contest’s Entertainment PartnerFor the first time in its history, the Eurovision Song Contest will be broadcast live in cinemas across the UK. The European Broadcasting Union, who runs the event, has confirmed the grand fi…
Read more »
Here Are 18 American Words For Things That Make Wayyyy More Sense Than The British EquivalentWashcloth is clearly the superior name here.
Read more »