Bank of England (BoE) Governor Andrew Bailey is delivering his remarks on the policy outlook and responding to questions from the press following the bank's decision to hike the policy rate by 50 basis points to 1.75%.
Key takeaways
"BOE will not comment on Conservative leadership candidates' plans."
"BOE has a very clear mandate of price stability."
"Consequences of Russia's actions in Ukraine have a serious economic impact."
"Political pressures have been very well managed since BOE independence."
"I have not abandoned the narrow path analogy for UK policy outlook."
"A number of central banks have a similar narrow path to tread."