BoE's Andrew Bailey: 'There is an awful lot still to do' to bring inflation down to 2% - reports

IMF annual meeting in Marrakesh

Governor of the Bank of England Andrew Bailey has said the fight against inflation is not over and that a lot remains to be done to bring it back down to target.

Speaking at the International Monetary Fund's annual meeting in Marrakesh, Bailey said "there is an awful lot still to do" to bring inflation down to the central bank's 2% target, and the "last mile" will be the toughest yet, according to reports by The Times. Inflation came in at 6.7% in August 2023, down from its 11.1% peak in October last year. Figures for September are forecast to be around 6.6% - a small drop from the previous month, but still more than triple the BoE's target. Bank of England's Pill: Rate decisions now 'finely balanced' The figures will be key for the central...