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Exclusive-Bank of England will probably need to raise rates again, Ramsden says

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Reuters UK

By William Schomberg and Andy Bruce LONDON (Reuters) – The Bank of England will probably have to raise interest rates further from their current 14 year-high to tackle inflation pressures that are gaining a foothold in Britain’s economy, BoE Deputy Governor Dave Ramsden said. Inflation’s spread was now showing up in rising British pay and companies’ pricing plans, having originally been triggered by the reopening of the world economy from COVID-19 lockdowns and then by Russia’s invasion of Ukraine, Ramsden told Reuters. Inflation is expected to return to the BoE’s 2% target – down from above 9…

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