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BoE's Bailey (Q&A) says there are some different views on second round effects, but nothing visible yet; however, some MPC members think there will be evidence of such effects ahead, though Bailey does not necessarily share this view.
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BoE held rates at 3.75% with a 6-3 split. Governor Bailey sees no current second-round effects, though dissenting members warn of upcoming inflation risks from energy and wage pressures.
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