JACKSON HOLE, Wyoming (Reuters) - Bank of England Deputy Governor Ben Broadbent said on Saturday that interest rates in Britain might have to stay high ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSJACKSON HOLE, Wyoming - Bank of England Deputy Governor Ben Broadbent said on Saturday that interest rates in Britain might have to stay high"for some time yet" as the central bank seeks to dampen the risks from the highest inflation rate among the world's big rich economies.
"As such, monetary policy may well have to remain in restrictive territory for some time yet," Broadbent said in a text of remarks he was due to make at the annual Jackson Hole Economic Policy Symposium in the United States. It has struggled to tackle an inflation rate that peaked at 11.1% last October and which, at 6.8% in July, remains more than three times its 2% target.
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