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BoE's Haldane says interest rates policy should be set to prevent entrenched inflation
June 29, 2017 / 6:30 PM / 5 months ago

BoE's Haldane says interest rates policy should be set to prevent entrenched inflation

LONDON (Reuters) - Bank of England chief economist Andy Haldane said on Thursday that interest rates need to be set in a way which minimises the risk of persistently high inflation.

FILE PHOTO: A bus passes the Bank of England in the City of London, Britain, February 14, 2017. REUTERS/Hannah McKay/Files

“First and foremost we need to set our interest rate policy to prevent those higher inflation rates becoming entrenched,” Haldane told the Guardian newspaper during a visit to Wales.

Last week Haldane surprised financial markets by saying he was likely to vote for an interest rate hike this year.

Reporting By Andrew MacAskill; Editing by Alistair Smout

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