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BoE’s COVID policy not to blame for inflation, Bailey says

Britain’s current surge in inflation is not the fault of the Bank of England and the stimulus it provided during the COVID-19 pandemic, Governor Andrew Bailey said on Monday.

“What I reject is the argument that in our response to Covid the Bank’s Monetary Policy Committee let demand get out of hand and thus stoked inflation. The facts simply do not support this,” Bailey said at a conference on inflation hosted by Austria’s central bank.
Source: Reuters (Reporting by Francois Murphy, writing by David Milliken, editing by Andy Bruce)

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