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UK’s Sunak hardens attitude to BoE’s Bailey as inflation roars

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Reuters UK

By Andy Bruce LONDON (Reuters) – British finance minister Rishi Sunak has toughened his language towards Bank of England Governor Andrew Bailey, a reflection of the political pressure piling on them both as inflation surges towards double digits. On Thursday the BoE stuck to its gradual increases in interest rates on Thursday, as other central banks took more urgent action, but said it was ready to act “forcefully” if needed to stamp out dangers posed by inflation. The BoE also published an exchange of letters between the governor and finance minister in which Bailey is required to explain why…

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