Bank of England Official: Monitoring Iran Conflict Before Rate Hike Decision

Bank of England Monetary Policy Committee member Green stated that it is prudent to observe the developments in the Iran conflict before deciding on a rate hike. According to Jin10, she warned that the risks to inflation are 'entirely skewed to the upside.' Green noted that the UK's weak economic conditions and a loose labor market should help mitigate the 'second-round price effects' triggered by global energy shocks. However, she also added that even before the outbreak of this conflict, the process of reducing inflation had already stalled.