B · Normal
[Bank of England Governor Bailey warned that the longer the energy shock lasts, the harder it will be to resist inflationary pressures] On October 14th, Bank of England Governor Bailey said that the energy cost shock caused by the US-Iran War still has a limited impact on overall British inflation, but as time goes by, it is becoming increasingly difficult to avoid broader inflationary effects. "We need to focus on the transmission of this inflation shock to indirect effects and second-round effects." Bailey said. "At the moment, this transmission is relatively mild in the UK, which is obviously encouraging to me. But the longer it goes on, the harder it will be to deal with."
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