Bank of England boss vows to ‘see the job through’ on reducing inflation

Andrew Bailey to give speech in City of London signalling further interest rate rises are in store

The Bank of England governor has signalled further interest rate pain is in store for mortgage holders and businesses as he said Threadneedle Street had to see the job through" on reducing inflation.

Hinting that a 14th successive increase in the cost of borrowing would be announced next month, Andrew Bailey is expected to tell the City's elite at the Mansion House dinner on Monday night that inflation is unacceptably high".