Bank of England’s Greene Says Inflation Risks Entirely on Upside

Bank of England rate-setter Megan Greene said it’s worth waiting to see how the Iran war develops before deciding whether to hike interest rates, as she warned the risks to inflation are “entirely on the upside.”

Britain’s weak economy and loose labor market should limit second-round price effects from the global energy shock, she said, albeit adding that progress on inflation was stalling even before the conflict erupted.