Mr Bailey said he was ‘not happy’ that the rate of Consumer Prices Index (CPI) inflation was above the Bank’s 2% target.

The Bank of England’s chief economist has warned fellow policymakers over the risk of becoming “complacent” towards the cost of living as he defends his recent calls to hike…

Mr Bailey said he was ‘not happy’ that the rate of Consumer Prices Index (CPI) inflation was above the Bank’s 2% target.

Bank of England Governor Andrew Bailey signals no urgency on rate changes as the MPC holds at 3.75% and inflation overshoots remain on the table.