BoE's Bailey is currently having a prerecorded interview played on the BBC's Radio 4 (looks like they have spliced the interview and will be drip-feeding it out over the morning).
Thankfully, BBC have published an article already
Opening salvo of the article...
Bank of England boss Andrew Bailey has warned businesses that raising prices risks embedding inflation in the UK and hurting the "least well off".
"If all prices try to beat inflation we will get higher inflation," Mr Bailey told Radio 4's Today Programme.
He warned interest rates would rise again if prices continued to increase.
Mr Bailey was speaking a day after the Bank raised interest rates to their highest level for 14 years after prices unexpectedly soared last month.
The Bank has been steadily increasing interest rates as it seeks to make borrowing money more expensive and encourage people to spend less, with the aim of stopping prices rising so quickly.
TBH - It lacks any substance
