BoE’s Bailey hits back at monetary policy critics
Facts “simply do not support” argument that central bank was too slow, governor says
Bank of England governor Andrew Bailey dismissed criticism that the central bank was too slow in tackling rising demand, in remarks on May 23.
Bailey said the UK was facing a “very big negative impact” on real incomes, which was likely to weigh heavily on demand in the months ahead. Monetary policy has to be set in the context of such shocks, he told a conference hosted by the National Bank of Austria.
“What I reject is the argument that in our response to Covid the bank’s monetary policy
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