- Bailey: US-Iran war has led to higher energy prices, they could be higher still
- Bailey: Ukranian attacks on Russian refineries also boosting energy prices
- Taylor: I judge holding bank rate at moderately restrictive level provides insurance against external risks
- Taylor: Remain alert to risk of persistent energy-price rises and how they could alter wage and price setting
- Taylor: Policy would have to respond forcefully but evidence scant
- Greene: The length of time oil prices has been high worrise me about second round effects
- Ramsden: Domestic inflation position is relatively benign
- Ramsden: Global inflationary picture is much more upside inflation risk
- Ramsden: UK wages have come in below what we expected before conflict
There is a consensus under all of this and it’s that the domestic economy is weak but foreign risks are mounting. Cable is up 12 pips today to 1.3550 and has risen in the past hour on a broadly softer USD.
This article was written by Adam Button at investinglive.com.