Page 1  Bringing inflation back to the 2% target, no ifs no buts − speech by Andrew Bailey Given at the Mansion House Financial and Professional Services Dinner  Page 2  Published on 19 July 2022  Andrew Bailey talks about the impact of four recent shocks on our economy. These shocks have pushed inflation up, he says, but we will set monetary policy to bring it back down to our target. Speech Lord Mayor, it is a great pleasure to be here at Mansion House this evening. The return to more normal times allows those of us from the Bank to pop round to our neighbour for an informal light dinner. It is also pleasing that you have been able to resume travelling in pursuit of your important role of promoting the UK and in particular the services of the City. We thank you for that important work. Quite appropriately you have also been keen to ensure that there is a suitable number of events to mark your Irish roots, the strong connections between the City and Ireland, and the rich vein of form of the Irish rugby team. I would like to join you [and the Chancellor] in welcoming Paschal Donohoe. It’s always good to see you Paschal. Chancellor, congratulations on taking up the office. I know from a lot of experience that you will find a warm welcome in the City. In my experience, you will find that people in the City want to get things done.
That made me very proud. Thank you. I am grateful to Jamie Bell, Alan Castle, Rashmi Harimohan, Jonathan Haskel, Bob Hills, Karen  Page 6  Jude, Nick McLaren, Rhys Phillips, Huw Pill, Andrea Rosen, Michael Saunders, Martin Seneca, Fergal Shortall, Silvana Tenreyro, and Laura Wallis for their assistance in helping me prepare these remarks.