Bank of England's Green: Although short-term inflation is rising, it will still fall to the 2% target in the medium term.

Bank of England Monetary Policy Committee member Greene said at an economic conference on Saturday that despite a rapid rise in consumer prices in the short term, the UK's anti-inflation efforts will continue. Greene stated: "The process of combating inflation is still ongoing, even though inflation has actually risen over the past few months, and we expect it to continue rising in the third quarter of this year." Greene noted: "Despite facing short-term price peaks, we expect the inflation rate to continue to decline towards our 2% target in the medium term." Greene is seen as one of the most hawkish officials at the Bank of England. Although she supported lowering interest rates by 25 basis points to 4.25% last month, she, like some other policymakers, tends to favor keeping borrowing costs unchanged.