The Bank of England puts interest rates up and down to try to control inflation.

Huw Pill says he regrets saying people should get used to being poorer or risk high inflation.

It is the first central bank to start unwinding the emergency support brought in after the 2008 financial crisis.

The Bank could raise rates by 0.5% at its next meeting in August, its boss Andrew Bailey said.

Governor Andrew Bailey says households are feeling the effects of growing inflation.

The Bank signals it will raise interest rates in "coming months", but holds off on an immediate increase.

Policymakers could increase interest rates from their historic low of 0.1% within hours.

Bank of England's Andrew Bailey says rising inflation is understandable given a "bumpy" economic recovery.