BoE's Bailey: Omicron expected to have depressed UK output in December and January

Speaking in the post-BoE press conference, BoE Governor Andrew Bailey said that the spread of Omicron is expected to have had a depressing impact on UK output in December and January, but that impact is likely to have been short in duration. The global rise in prices for energy and imports will inevitably push up inflation and weigh on incomes, he added.