According to the Bank of England, monetary policy committee member Greene stated today (May 11) that it is worth observing how the Iran conflict develops before deciding on rate hikes. She warned that inflation faces risks that are “entirely skewed to the upside.” Greene noted that the UK’s weak economic conditions and slack labor market should help contain a “second-round price effect” from global energy shocks, though she added that disinflation had already stalled even before this conflict erupted.
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