BOE policymaker Greene warns of second-round UK inflation risks, voices concern over wage growth
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BOE monetary policy committee member, Megan Greene, is continuing to sound the alarm over persistent inflation risks in the UK, with her latest remarks today offering little reason to think that she will be backing away from her more hawkish stance. I do think UK will see some se
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The desk believes the Bank of England (BoE) is likely to adopt a cautious approach regarding interest rate hikes, particularly in light of geopolitical tensions stemming from the US-Iran conflict. Per the full note [source], BoE's Greene has indicated that while inflation risks are skewed to the upside, the current sluggish economy and loose labor market may mitigate the second-round effects of energy shocks. The market currently prices in a 42% chance of a rate hike in June, which suggests that upcoming economic data will be pivotal in shaping expectations ahead of the meeting.
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