The Bank of England will consider a half-point interest rate hike in August, quickening the pace in its fight against inflation, Governor Andrew Bailey said. In his annual Mansion House speech in London this evening, Bailey will also say the BoE may reduce its government bond holdings amassed during quantitative easing by between £50bn ($60bn) and £100bn in the first year of active sales. It could vote on sales as early as September. The remarks put detail on Bailey’s pledge to act forcefully if necessary to bring the fastest inflation in 40 years under control. Prices are set to be rising at an annual pace of 11% come October, more than five times the BoE’s target. Bailey said meeting the
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