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After Rate Hike Expectations Surged, Bank of England Governor Rushed to Cool Down
On March 19, Bank of England Governor Bailey said in an interview with BBC reporters that the market has been somewhat premature in its expectations regarding rate hikes.
"I remind everyone not to hastily draw firm conclusions about whether interest rates should be raised……Today we have already sent a very clear message.
The most appropriate course of action at present is to keep interest rates unchanged.
"Bailey stated that they will examine "carefully and continuously" the scale and severity of this conflict.
Bailey also pointed out that this is not 2022, when inflation surged to double digits, interest rates were raised sharply and drastically, indicating that rates were already high at that time, and so on.
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