IMF: BoE may have to hike further on persistence in inflationary pressures

In a statement on Tuesday, the International Monetary Fund (IMF) said that its directors “welcomed the Bank Of England’s (BoE) policy response to arrest inflation pressures, including the 50 bps policy rate increase on June 22.”

“Should inflationary pressures show signs of further persistence, the BoE policy rate may have to be raised further and would need to remain higher for longer,” the IMF said.

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