BoE's Bailey: Will keep rates high enough for long enough to get inflation down

Bank of England Governor Andrew Bailey said on Thursday the central bank would keep rates as high as needed, for as long as needed to get the level of inflation down. "Let me be clear, there is absolutely no room for complacency.

Bank of England Governor Andrew Bailey said on Thursday the central bank would keep rates as high as needed, for as long as needed to get the level of inflation down.

"Let me be clear, there is absolutely no room for complacency. Inflation is still too high. We will keep interest rates high enough for long enough to make sure we get inflation all the way back to the 2% target," he said at a press conference after the BoE held interest rates at a 15-year peak.