Bank of England will have to act to contain inflation – Bailey

LONDON, Oct 17 (Reuters) – The Bank of England will have to act to make sure medium-term inflation expectations do not take off, BoE Governor Andrew Bailey said on Sunday.

“Monetary policy cannot solve supply side problems but it will have to act and must do so if we see a risk particularly to medium-term inflation and to medium-term inflation expectations,” Bailey said on Sunday.

“And that’s why we at the Bank of England have signalled, and this is another such signal, that we will have to act,” he said during a panel discussion organised by the Group of 30 consultative group. “But of course that action comes in our monetary policy meetings.” (Reporting by William Schomberg; Editing by Alex Richardson)