Bank of England Governor Andrew Bailey emphasized maintaining public confidence in the 2% inflation target, rejecting calls to raise the goal despite current inflation exceeding projections. While acknowledging geopolitical impacts, he noted potential for energy shocks to be less persistent than feared, as market expectations for rate hikes remain cautious.

Andrew Bailey he believes inflation would currently be at the 2% target level were it not for the conflict in the Middle East.

Bank of England Governor Andrew Bailey emphasized maintaining public confidence in the 2% inflation target, rejecting calls to raise the goal despite current inflation exceeding…