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2026-05-29 17:15:24
[Bank of England's Bailey: Monetary Policy Has Been Significantly Tightened in Response to the Shock; Close Monitoring of the Middle East Situation is Necessary] ⑴ Bank of England President Bailey stated that this has already begun to impact the economy. ⑵ Bailey said, "We have now excluded expected rate cuts from our near-term considerations, and we have significantly tightened monetary policy in response to this shock relative to previous market expectations." ⑶ Bailey also stated that it is essential to closely monitor the situation in the Middle East and its impact on the UK economy and inflation, and to adjust policy as needed.
