What is the Bank of England looking at before rate decision?

Published by
Reuters UK

By William Schomberg and Sumanta Sen LONDON (Reuters) – The Bank of England must decide next week how much higher it will raise borrowing costs as it tries to bear down on Britain’s double-digit inflation rate without adding too much stress to an economy already close to recession. BoE Governor Andrew Bailey said last week that inflation might have turned a corner after it fell in November and December, but at above 10% it is still more than five times the BoE’s 2% target. Bailey has also warned that a shortage of workers could make it harder to bring down inflation by fuelling strong wage gro…

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