BOE's Bailey: Inflation is still too high

<ul><li>We will keep rates high enough for long enough to return inflation to target</li><li>OFGEM price cap means we can be confident about energy bills lowering inflation</li><li>It's important that services inflation falls steadily over next year</li><li>There is a considerable way to go on quashing inflation</li><li>Whether GDP growth is slightly negative or slightly positive won't impact monetary policy</li><li>How long restrictive stance will be needed depends on incoming data</li><li>We have to be mindful of balance of risks between doing too little and too much</li><li>Events in Middle East create risk of higher energy prices</li></ul>

This article was written by Adam Button at www.forexlive.com.