Bank of England Governor Andrew Bailey speaks at a press conference on Thursday, following the central bank's decision to raise its benchmark interest rate to 5.25%. He believes that restrictive monetary policy is working to bring inflation down, and that it will continue to fall over the coming months. He concedes, however, that the decline is largely attributable to the diminishing contribution of energy, and that uncertainty persists over the other non-energy components.
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- Andrew Bailey, BOE: "Policy has reduced inflation, which will continue to fall".