Bailey Sees No Significant Inflation Effects in UK Ahead of BoE Meeting

Bank of England Governor Andrew Bailey said that he doesn't see significant second-round inflation effects in the UK. In an interview with Bloomberg TV at Jackson Hole, Bailey stated that 'we're seeing quite subdued second-round effects' and added that the BoE is not pre-committed to an interest rate path.

He emphasized that the BoE assesses the economic situation on a meeting-by-meeting basis, saying 'we are seeing, at the moment, relatively muted second-round inflation effects.'

Bailey's comments come ahead of the BoE's monetary policy meeting on September 17. The UK's central bank has been closely watching inflation levels and interest rates in recent months.