Interest rates may face higher-than-expected rise next month, Bank of England chief suggests

🔴 Bank of England governor Andrew Bailey has warned interest rates could rise higher than expected next month due to inflation pressures.

Andrew Bailey said inflationary pressures may require a stronger response due to the Government’s energy subsidies

The bank previously predicted the rate of inflation would peak at 11 per cent in October and is due to announce its next decision on interest rates on 3 November.

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