Inflation target to be met in two years says Bank of England Governor

Governor of the Bank of England Andrew Bailey says that it will take one year for inflation in the UK to drop to 9%, but it'll take an extra year on top of that to reach the Bank's target of 2%.

This comes as the BoE raised its base interest rate by 0.5% to 1.75% - its biggest rise since 1995.

#BankOfEngland #Money #Economy

SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews

Follow us on Twitter: https://twitter.com/skynews
Like us on Facebook: https://www.facebook.com/skynews
Follow us on Instagram: https://www.instagram.com/skynews
Follow us on TikTok: https://www.tiktok.com/@skynews

For more content go to http://news.sky.com and download our apps:
Apple: https://itunes.apple.com/gb/app/sky-n...
Android https://play.google.com/store/apps/de...

Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí https://www.youtube.com/channel/skyne...
Sky News videos are also available in German here/Hier können Sie außerdem Sky News-Videos auf Deutsch finden: https://www.youtube.com/channel/UCHYg...

To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales