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Elsewhere in Bangkok today, Bank of England governor Andrew Bailey, was interviewed at the Institute of International Finance annual members’ meeting, being held across town in Bangkok.
With the BoE’s monetary policy committee due to set interest rates in three weeks’ time, Bailey said he was not yet seeing many signs of the “second round effects,” that would indicate inflation has spread beyond the energy sector.
“I think it’s too early, but to the extent we’ve seen evidence, so far it’s been quite subdued.”
“If you believe, like I believe, that it will make economies and countries that put it to good use, more productive, that it’s going to make it so that we will have more wealth, then that has to be a very good thing. But the path from where we are to there is likely to be a very bumpy one.”
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