Bank of England cannot rule out more rate rises, MPC’s Haskel says

LONDON: The Bank of England may need to raise interest rates more than once from their current level of 4.5% to bring inflation under control, Monetary Policy Committee member Jonathan Haskel said in an article published on Monday.

“My own view is that it’s important we continue to lean against the risks of inflation momentum, and therefore that further increases in interest rates cannot be ruled out,” Haskel wrote in an article for The Scotsman newspaper.

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“As difficult as our current circumstances are, embedded inflation would be worse,” he added.