The Aporia
The Aporia
Saker-Clark, H. (2026, September 25). High energy prices will make it ‘harder’ to avoid interest rate hike – Bailey. Evening Standard. https://www.standard.co.uk/business/business-news/bank-of-england-andrew-bailey-inflation-oxford-warsaw-b1298380.html
Saker-Clark, Henry. “High energy prices will make it ‘harder’ to avoid interest rate hike – Bailey.” Evening Standard, 25 Sept. 2026, https://www.standard.co.uk/business/business-news/bank-of-england-andrew-bailey-inflation-oxford-warsaw-b1298380.html.
Saker-Clark, Henry. “High energy prices will make it ‘harder’ to avoid interest rate hike – Bailey.” Evening Standard, September 25, 2026. https://www.standard.co.uk/business/business-news/bank-of-england-andrew-bailey-inflation-oxford-warsaw-b1298380.html.
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Bailey, the governor of the Bank of England, warned that high energy prices are making it increasingly difficult to avoid raising interest rates, which currently stand at 3.75%. This statement follows comments from a deputy governor who suggested a rate hike is becoming more likely if energy costs stay elevated. Bailey noted during a speech in Oxford that while there has been limited immediate impact on inflation due to the "energy shock," sustained high prices will make it harder to maintain current rates. Households are expected to face a roughly 4% increase in their energy price cap starting next week, contributing to predicted inflation levels of around 3.7% by the end of this year and 4.2% in early 2024.
