Watch: Bank of England governor Andrew Bailey takes questions from MPs

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Watch as Bank of England governor Andrew Bailey solutions questions from the House of Commons’ Treasury Committee on Tuesday 20 February.

Figures launched this week present the speed of inflation (CPI) remained regular at 4 per cent in January – regardless of many economists forecasting a rise.

This has led to heightened hypothesis that the Bank of England could think about slicing rates of interest from the summer season.

MPs are more likely to ask witnesses, together with Mr Bailey, concerning the future path of inflation, whether or not dangers of over-tightening financial coverage have elevated because the November forecast, and their views on the long run of wage development.

The committee is sitting on the identical week that the UK’s greatest banks are set to report record-high earnings after a 12 months that noticed lenders profit from larger borrowing prices.

Barclays, HSBC, Lloyds and Standard Chartered will report their monetary outcomes for 2023, on Tuesday, Wednesday, Thursday and Friday respectively.

On Friday, NatWest revealed its greatest yearly revenue since 2007, earlier than the worldwide monetary disaster, and a fifth larger than the earlier 12 months.