QUOTES-Bank of England press conference after rate hike

There are no ifs and buts about that." "All options are on the table for our September meeting and beyond that." BAILEY ON FUTURE RATE HIKES "Overall a faster pace of policy tightening at this meeting will help to bring inflation back to the 2% target sustainably in the medium term." "Looking ahead, that does not mean we're now moving to a predetermined path of raising bank rate by 50 basis points per meeting, or indeed any other number for that matter." "Policy is not on a preset path.

The Bank of England raised interest rates by the most in 27 years on Thursday, despite warning that a long recession is on its way, as it rushed to smother a rise in inflation which is now set to top 13%. Below are quotes from Governor Andrew Bailey and deputy governors Ben Broadbent and Dave Ramsden.

BAILEY ON INFLATION TARGET "Returning inflation to the 2% target remains our absolute priority. There are no ifs and buts about that."

"All options are on the table for our September meeting and beyond that." BAILEY ON FUTURE RATE HIKES

"Overall a faster pace of policy tightening at this meeting will help to bring inflation back to the 2% target sustainably in the medium term." "Looking ahead, that does not mean we're now moving to a predetermined path of raising bank rate by 50 basis points per meeting, or indeed any other number for that matter."

"Policy is not on a preset path. And what we do this time does not tell you what we're going to do next time. All options are on the table for our September meeting, and beyond that."

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