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BOE’s Bailey: there is a risk of second-round effects

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  • After these rate hikes, we are on a tightening path
  • The path of inflation will depend on energy
  • I believe we can make a soft landing, but it’s a narrow path

Lately, Bailey has taken a more austere view of economic growth, so it’s no surprise the cable has finally gone down. It’s the kind of break that lasts a while.

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