Bank of England Acknowledges Inflation Reduction
This is a U.K. news story, published by CNBC, that relates primarily to Andrew Bailey news.
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persistent inflationCNBC
•Bank of England's Bailey: 'More restrictive policy' could still be needed due to labor market shocks
78% Informative
Bank of England Governor Andrew Bailey will hail progress in dampening inflation in the U.K. in a Friday speech.
Headline inflation has "fallen sharply as energy and food price shocks in particular have fallen away," he will say.
But he will caution that monetary policy may need to remain restrictive for longer than expected due to shocks from the labor market.
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