Energy prices have been high for 8 months and look like they’re going to stay high
We are seeing more investment in the energy secretary
Business can absorb higher costs for awhile but ultimately they pass them on
Our surveys show they are planning to pass on more of these cost increases
He’s referring to this chart from the MPR:
Even with rates here, our rate is low enough that it’s not restraining growth
There is no pre-determied path for rates
There could be a further need for rate hikes but uncertainty is high
We’re going to take decisions one at a time based on incoming information
Inflation is looking less likely to be well-contained
Rogers: We debated a hike and a hold
Rogers: There was a very strong consensus
Rogers: What drove the decision was a shift in the balance of risks on inflation
This article was written by Adam Button at investinglive.com.
