BoE Greene Warns Against Ignoring Supply Shocks
Megan Greene stated that policymakers should not assume inflationary impacts from geopolitical conflicts will be temporary. She noted that successive supply shocks require a proactive stance on interest rates to manage wage and price setting risks as the MPC monitors upcoming economic data.
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United Kingdom interest rate-setter Megan Greene warned that inflation from the Iran conflict may persist, signaling potential rate hikes ahead. This marks the third negative supply shock in five years, challenging the traditional policy of looking through temporary energy spikes. Investors are pricing at least two rate hikes before the end of the year, but most economists polled by Reuters forecast no change in borrowing costs.
