More work needed to tackle inflation as BoE members warn of further market turmoil

During a Treasury Committee hearing on Wednesday (5 March), BoE governor Andrew Bailey said that, despite the underlying trends toward disinflation that influenced his vote for a rate cut in February, he warned we are "living in a world of greater uncertainty" compared to when the MPC last convened before the committee. He further took notice of UK economic activity, which has flatlined since last spring, adding that this is to an extent due to a combination between supply and demand issues. On the productivity and output front, he said the country's population increased last year whi...