Bank of England (BoE) Monetary Policy Committee (MPC) member Megan Greene said during the European trading session on Monday that the central bank needs to wait to see how Middle East conflicts will flare before making any monetary policy adjustments.
Comments
It’s worth waiting to see how the US-Iran war develops before deciding whether to hike interest rates.
Inflation risks are skewed entirely to the upside.
Sluggish economy and loose labour market should limit second-round effects from energy shock.
Market reaction
No immediate response appears on the British Pound (GBP) due to BoE’s Greene. The reason might be that they lack any meaningful guidance on the monetary policy outlook. As of writing, GBP/USD is down 0.17% to near 1.3610 but has recovered a majority of its early losses.
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