Interest Rate Hike and Inflation Warning from BoE Member Megan Greene

Bank of England (BoE) Monetary Policy Committee member Megan Greene stated that the risk of the Iran war's impact on energy prices reflecting on general inflation is higher than expected, and called for an interest rate hike.

Speaking at the London School of Economics on Tuesday, Bank of England (BoE) Monetary Policy Committee member Megan Greene stated that it would be more appropriate to proceed with the assumption that second-round effects of the energy shock could be strong and to adjust policy later if necessary. Greene emphasized that preventive steps should be taken against the risk of inflation becoming persistent through wages and prices.