00:05:19 · Francine Lacqua, Andrew Bailey
[00:05:19] S0: But let's say there's a peace war with Iran and actually there's lasting peace. Then would rates go down quickly? [00:05:27] S1: Well, it would depend on all sorts of things. I mean, obviously, look, that would be very good. Now, unfortunately, I mean, the increase that we are saying today will happen in inflation is quite baked in at this point because of the way that particularly the price cap is calculated for household energy costs. So although I think, you know, if we get that sort of process, it won't go up to five, but we won't get as much relief as you might imagine. And a lot of that is to do with the timing of the energy price cap process, because a lot of the Q1 number is now in the bag, as it were, in the way that they calculated. So I think the question then is how fast does it come down? Does it come down? I mean, we've got it coming down in our central forecast quite fast. Does it come down even faster? And that would be the decision. And that, of course, has to do with To what extent it's passing through to, you know, or not to other parts of inflation? To what extent is, you know, we're getting, seeing stronger activity? Is that coming through into inflation, irrespective of energy prices? Are we going to get other things going on in, for instance, in food inflation? You know, there's always about, you know, a set of things that we have to look at. [00:06:37] S0: Governor, the government is asking us to stockpile. What are you stockpiling?
00:06:37 · Francine Lacqua, Andrew Bailey
[00:06:37] S0: Governor, the government is asking us to stockpile. What are you stockpiling? [00:06:40] S1: Okay. We do actually keep a reasonable supply of water at home, actually, so I do do that, yes. [00:06:49] S0: Okay, but are you going to stockpile more? Should we all stockpile? [00:06:53] S1: I'm not saying, honestly, I don't think it's for me. I'm not an expert in what you should and shouldn't have. We've got food at home. [00:06:58] S0: I feel you're a risk expert, so we should follow your lead. [00:07:03] S1: I think I'm going to defer to others who are far more of experts on that area of risk management.