UK Inflation Unfazed by US Tariffs: Bank of England's View
Bank of England Governor Andrew Bailey reported that despite fears, U.S. trade tariffs have not significantly impacted British inflation. Speaking before Parliament's Treasury Committee, Bailey stated that inflationary pressures from tariffs have yet to materialize and are not a major factor in UK inflation dynamics.
- Country:
- United Kingdom
Andrew Bailey, the Governor of the Bank of England, announced on Wednesday that U.S. trade tariffs have not been affecting British inflation as significantly as initially feared.
Speaking to a panel of lawmakers on Parliament's Treasury Committee, Bailey asserted, "I don't think we're seeing inflationary pressures coming through from the tariff situation as of yet."
He cautioned against underestimating the importance of tariffs in discussions about inflation, but emphasized that their impact on UK inflation has not been as substantial as anticipated.
(With inputs from agencies.)
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