- Bank of England Governor Andrew Bailey said the energy-cost shock from the US-Iran war has had a limited impact on broader UK inflation so far.
- Bailey said the key variable is pass-through into indirect and second-round effects on inflation, which he said has been more subdued in the UK.
- Bailey said the longer the energy shock persists, the harder it becomes to avoid inflationary impact, in remarks from a CNN interview that aired on a Tuesday.
Quotes
“the longer this goes on, the harder it gets.”