The Bank of England is unlikely to consider further interest rate hikes as the likelihood of a greater persistence of inflation has diminished, a policymaker said Wednesday.
"The downside surprise in services price inflation and wage growth suggested a little less persistence than we had assumed in our central forecast back in November, and so my concerns about the risk of even greater persistence emerging have diminished," Sarah Breeden, deputy governor for financial stability, said in a speech.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.