Bailey Says BOE Will Get Inflation Back to Target

The transcript discusses the economic pressures faced by the UK, highlighting risks from gas prices and international factors. It examines the role of fiscal policy in addressing recession and inflation, noting the challenges of high inflation combined with recession forecasts. The discussion covers interest rates, the concept of neutrality, and the impact of economic shocks. Concerns about the strength of sterling and its implications for monetary policy are addressed, emphasizing the importance of context in exchange rate movements. The transcript concludes with a commitment to controlling inflation despite the challenges.

How does the speaker perceive the current state of the sterling?

What challenges does the speaker mention regarding inflation and low-income individuals?

What actions does the speaker suggest may be necessary if inflation is not controlled?