BoE's Barker on cost pressures and UK inflation

In a speech given on 21 March Kate Barker of the Bank of England said the central bank should refrain from paring its benchmark interest rate as inflation accelerates.

"The numbers of pressures that are coming on cost in the short-term -- the worldwide inflation pressures and the fact that over the next four to six months those seem more likely to increase than to decrease -- suggest this isn't quite the moment to be cutting rates," Barker told business executives.

"The short-run upward price

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