Bank of England policymaker Dhingra said on Thursday the extent of persistent inflationary pressure from the Iran war will become clearer over coming winter months. She noted the UK is not currently experiencing the broad-based price surge seen in 2022 when the Russia-Ukraine war pushed energy prices sharply higher, and that the labour market is weaker now. Dhingra said winter energy dynamics, the outcomes of wage negotiations and ongoing monetary tightening will clarify the inf outlook, and sig

Bank of England policymaker Dhingra said on Thursday the extent of persistent inflationary pressure from the Iran war will become clearer over coming winter months. She noted the UK is not currently experiencing the broad-based price surge seen in 2022 when the Russia-Ukraine war pushed energy prices sharply higher, and that the labour market is weaker now. Dhingra said winter energy dynamics, the outcomes of wage negotiations and ongoing monetary tightening will clarify the inf outlook, and signals from wage talks and other medium-term drivers should become clearer by end-2026. She rejected the view that pre-emptive rate hikes are essential to preserve the Bank of England's credibility in fighting inf.