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UK’s Kwarteng expects Bank of England to keep acting forcefully

By:
Reuters
Updated: Sep 22, 2022, 13:05 GMT+00:00

LONDON (Reuters) - New British finance minister Kwasi Kwarteng said on Thursday that he expected the Bank of England to take the forceful action necessary to contain inflation, in a letter to the central bank's governor, Andrew Bailey.

New British Health Chancellor of the Exchequer Kwasi Kwarteng walks outside Number 10 Downing Street in London

LONDON (Reuters) – New British finance minister Kwasi Kwarteng said on Thursday that he expected the Bank of England to take the forceful action necessary to contain inflation, in a letter to the central bank’s governor, Andrew Bailey.

“It is essential to businesses and households across the country that inflation is brought back to target, and I know and expect that the MPC will continue to take the forceful action necessary to achieve this and to ensure inflation expectations remain firmly anchored,” Kwarteng wrote.

Kwarteng said he was focused “unashamedly” on growing the economy, adding there would be robust fiscal discipline in the medium term.

(Reporting by William James, writing by Andy Bruce; editing by David Milliken)

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