BoE Chiefs Warn Inflation Risks Rising as Growth Outlook Dims

Bank of England Governor Andrew Bailey said on Thursday that the balance of risks around the U.K. economy has tilted, with upward pressures on inflation becoming more pronounced while growth prospects weaken. Speaking during a policy-makers’ testimony, Bailey cautioned that the risks to prices are now "quite real and very apparent," adding that the Monetary Policy Committee "stands ready to adjust our stance" should the inflation outlook shift further. Deputy Governor Dave Ramsden echoed Bailey’s assessment, warning that downside risks to economic activity "are more noticeable" than earlier in the year. The remarks underline the central bank’s dual concern over persistent price pressures and a slowing economy as it weighs its next interest-rate decision.