In addition to confirming intentions to keep a tight monetary policy in place for some time, he said that investors place “too much importance” on statistics showing a drop in overall inflation.
“We are concerned about the likelihood of continued high inflation in the final stretch of our path to the 2% target,” Bailey stated. “Additionally, I believe that the market is undervaluing that.”
Inflation in the United Kingdom decreased to 4.6% in October from 6.7% in September, the lowest level since October 2021.
source: ft.com
