BoE's Dhingra: Winter Will Reveal UK Inflation Pressures

Bank of England interest rate-setter Swati Dhingra said that the extent of long-term inflation pressures in Britain caused by various global events, including the Iran war, will become clearer over the coming winter months.

Dhingra noted that Britain is not experiencing broad-based price rises like those seen in 2022 when energy prices jumped due to Russia's invasion of Ukraine. Instead, the country's jobs market is now weaker.

The Bank of England is justified in staying on hold with borrowing costs given demand levels in Britain's economy are below those of the US and benchmark rates are higher than in the euro zone.