BoE's Bailey speaks to lawmakers about inflation

LONDON (Reuters) - Bank of England Governor Andrew Bailey and other top officials from the British central bank spoke to lawmakers on Monday about this month's decision to raise interest rates in the face of an inflation rate they think will hit 10% this year.

GOVERNOR ANDREW BAILEY ON INFLATION

"I should emphasise that I do not feel at all, obviously, happy about this. This is a bad situation to be in."

GOVERNOR ANDREW BAILEY ON WHETHER HE COULD HAVE DONE THINGS DIFFERENTLY

"I don't think we could. I don't think we could foresee a war in Ukraine. Another factor that we're dealing with at the moment, is a further leg of COVID, which is affecting China.

(Reporting by Farouq Suleiman, editing by William James)