By Max Colchester

 

The governor of the Bank of England, Andrew Bailey, said Monday that the central bank will change interest rates by "as much as needed" to bring inflation down to 2% in the medium term.

The BOE said it would make a full assessment at it's next meeting.

The statement comes after the pound fell to record lows against the dollar following a government cut in tax rates.

 

Write to Max Colchester at max.colchester@wsj.com

 

(END) Dow Jones Newswires

September 26, 2022 11:59 ET (15:59 GMT)

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