We do not rule out raising interest rates by 50 basis points next month

Bank of England Governor Andrew Bailey said he does not rule out a rate hike by half a percentage point next month.

Bailey added that central banks It has the option to move more aggressively to contain inflation.

He pointed out that raising half a percentage point is on the table, if circumstances arise that require doing more, but he wondered: Why do you assume that this is the only thing on the table?

Bailey noted that money markets are pricing in higher interest rates.