BoE Deputy Governor sees lower inflation risk than 2022

Sarah Breeden, Deputy Governor of the Bank of England, stated on Thursday that the current risks of second-round inflation effects in the United Kingdom are lower than those experienced following the 2022 energy crisis. Speaking at an event hosted by the Resolution Foundation, Breeden noted that the economic landscape has shifted significantly since the full-scale invasion of Ukraine, with current energy price pressures stemming from the Iran war presenting a different set of challenges.

"Where we are now is very different to 2022 when we had the last energy shock," Breeden told an event hosted by the Resolution Foundation think tank on Thursday.