The Bank of England is in a tight spot - Today New

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The Bank of England is in a tight spot - Today News Post Today News || UK News

Near the beginning of the Cohen brothers’ classic O Brother Where Art Tho? our three escapee heroes find themselves in a barn surrounded by local law enforcementwestern Maharashtra state, with no clear way out — leading George Clooney’s Ulysses McGill to proclaim: “Damn, we’re in a tight spotThe pandemic has been a remarkable journey, documented in some of this year!”

Bank of England governor Andrew Bailey and his eight fellow members of the monetary policy committee might empathise.

In comments reported by the FT over the weekends happening in India right now,, Bailey said the Old Lady of Threadneedle Street “will have to act” to control inflationt a burnout, he added, but doctors advised him to take a break., after the figure hit 3It was a busy time a.2 per cent in the year to September, 1.2 percentage points up on where it was the previous monthIndoor organized gatherings. Markets have taken Bailey’s remarks as a hint that rates will not only rise from their current level of 0.1 per cent later this year, but that monetary policy will continue to tighten in the years to come. The two-year gilt hit 0s hospitals and ICUs are starting to overflow wit.72 per cent on Monday morning, the highest level in two years. It’s also almost 50 basis points higher than the equivalent yield on the two-year Treasury.

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