Bank of England monetary policy committee member Greene said at an economic conference on Saturday that despite a short-term acceleration in consumer price rise, the UK's anti-inflation efforts will continue. Greene stated: "The process of anti-inflation is still ongoing, despite inflation actually rising in 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 regarded as one of the most hawkish officials at the Bank of England. Although she supported the decision to lower interest rates by 25 basis points to 4.25% last month, she, like some other policymakers, tends to favor keeping borrowing costs unchanged.
View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Bank of England official Green: Despite the short-term inflation rebound, it will still fall to the 2% target level in the medium term.
Bank of England monetary policy committee member Greene said at an economic conference on Saturday that despite a short-term acceleration in consumer price rise, the UK's anti-inflation efforts will continue. Greene stated: "The process of anti-inflation is still ongoing, despite inflation actually rising in 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 regarded as one of the most hawkish officials at the Bank of England. Although she supported the decision to lower interest rates by 25 basis points to 4.25% last month, she, like some other policymakers, tends to favor keeping borrowing costs unchanged.