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Bank of England rate-setter holds off on backing hikes until Iran impact clears

Megan GreeMPC member Megan Greenene (pictured right), a member of the Bank of England's (BoE) Monetary Policy Committee (MPC), has said policymakers should allow time to assess the impact of the Iran war on the economy before taking any decision on interest rates. Greene noted that the UK's subdued economic growth and a loosening labour market should help contain secondary price pressures stemming from the global energy shock, though she cautioned that inflation had already been showing signs of stalling before the conflict began [...]