BOE Bailey continues his testimony
- If we were to see price pressure becoming more generalized, that would cause us to reevaluate guidance
- We will need to look at inflation evidence more carefully than normal
- Inflation story in the United States has considerable similarities to UK
- There are good reasons why UK doesn't do average inflation targeting
- Sterling has appreciated, that will exert downward pressure on trade prices
- Growth in inflation trends do not support the idea that we need more stimulus
- Content we are on appropriate policy-setting
on inflation