Megan Greene, of the Bank of England's Monetary Policy Committee, highlighted the ongoing challenges posed by inflation, predicting it will stabilize around 3.5% through 2025. This plateau could lead to continuous wage and price pressures. She noted the UK economy's weakness and cautioned about the risks of growth declining, while inflation risks are skewed upward. Furthermore, Greene pointed to several unfolding global events that could exacerbate uncertainty ahead of future monetary policy meetings, complicating the situation for central bankers.
"I worry about the near-term profile for inflation this year, which in my view now resembles more of a 'plateau' than a 'hump'."
"On the global front, there are a number of key events playing out between now and our next meeting, including the deadline for the pause on so-called 'reciprocal tariffs' from the US."
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