As price pressures increase in the U.K., the Bank of England's governor has all but promised an interest rate increase soon.
With shortages forecast for everything from toys to turkeys this Christmas, some beleaguered Brits may be pining least for an interest rate increase. But a surge in U.K. bond yields was indicating that’s exactly what they may be getting.
“And that’s why we at the Bank of England have signaled, and this is another such signal, that we will have to act,” he said. Bailey’s comments come on the heels of hawkish comments seen in recent weeks by he and others on the bank’s monetary policy committee. “Guessing how nine people in a room are going to vote on interest rate policy isn’t based on any science, but a rate increase in November would give the impression of a pretty panicked knee-jerk reaction to events unfolding in the energy market,” he said, adding that a December hike may be more likely with the bank needing to consider lots of data in between.
The U.K. has been struggling with petrol shortages due to a lack of drivers, while the toy industry has predicted shortages of Barbie sets and coveted Paw Patrol figures for Christmas, alongside warnings of turkey shortages due to a lack of butchers.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Judge Judy' Bailiff Wants to Do Another Court Show, Getting Interest'Judge Judy' bailiff down to do another courtroom TV show, getting interest from producers.
Read more »
Parenting, Baby Names, Celebrities, and Royal News | CafeMom.com
Read more »
An activist investor may turn to a recipe for success to boost value at US Food HoldingsActivist firm Sachem Head suggests it may be interested in a board seat at US Food Holdings.
Read more »
These turkeys may be harder to get this ThanksgivingMore families wanting a more intimate experience this Thanksgiving could opt to buy smaller turkeys than normal, sparking a shortage.
Read more »
British Designer Ifeanyi Okwuadi Wins Top Prize at Hyères Fashion FestivalBritish men’s wear designer Ifeanyi Okwuadi took the top prize at the 36th edition of the Hyères International Festival of Fashion and Photography.
Read more »
Netflix Picks Up Maggie Gyllenhaal’s ‘Lost Daughter’ for U.K., Germany From Entertainment OneNetflix has picked up Maggie Gyllenhaal’s directorial debut “The Lost Daughter” for additional territories, snapping up U.K., Benelux and German rights to the Venice-premiering fe…
Read more »