Andrew Bailey: 'Good reasons' to expect inflation to fall sharply

The transcript discusses the current state and future expectations of inflation, focusing on energy and food prices. It highlights the anticipated decline in inflation due to falling energy prices and the gradual easing of food price inflation. The importance of monitoring core inflation, which excludes volatile energy and food prices, is emphasized. The speaker addresses the bank's credibility in managing inflation and the challenges posed by global economic shocks. The need for conditional forecasts based on market prices and policies is also discussed.

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