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UK's Kwarteng expects Bank of England to keep acting forcefully

UK's Kwarteng expects Bank of England to keep acting forcefully
UK's Kwarteng expects Bank of England to keep acting forcefully   -   Copyright  Thomson Reuters 2022
By Reuters

LONDON – New British finance minister Kwasi Kwarteng said on Thursday that he expected the Bank of England to take the forceful action necessary to contain inflation, in a letter to the central bank’s governor, Andrew Bailey.

“It is essential to businesses and households across the country that inflation is brought back to target, and I know and expect that the MPC will continue to take the forceful action necessary to achieve this and to ensure inflation expectations remain firmly anchored,” Kwarteng wrote.

Kwarteng said he was focused “unashamedly” on growing the economy, adding there would be robust fiscal discipline in the medium term.