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Bank of England Governor Bailey Commits to 2% Inflation Target, Says Longer Timeline Needed

2026-07-14 21:53:32

In recent remarks, Bank of England Governor Andrew Bailey reaffirmed the central bank's commitment to returning inflation to its 2% target, noting that while current progress is "encouraging," the process will require more time. Bailey highlighted that the U.K. economy remains in a "considerably weak" state, with potential economic growth declining to 1.3% from 2.8% pre-financial crisis, following negative supply-side shocks including the pandemic, the Ukraine war, and Brexit.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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