How much further interest rates need to increase will depend on developments in the global economy, how household spending evolves and the outlook for inflation and the labour market. 4/5  BIS - Central bankers' speeches  The Board is conscious that there are risks in both directions.
It meets every month, which gives it frequent opportunities to evaluate how these various risks are evolving and to respond flexibly as appropriate. We will do what is necessary to make sure that inflation returns to the target range.