Bank of England Monetary Policy Committee member Megan Greene said on Monday that she believes the disinflation process is underway, though there are still reasons to be concerned about inflation persistence. She noted that while wage and inflation measures are moving in the right direction, they remain too high. The official also expressed slight concern that medium-term inflation expectations have started to pick up.
Greene emphasised that the BoE is currently focused more on domestic factors than trade. However, she also pointed out that uncertainty around trade tariffs between the United States and the European Union remains, which is an important factor for demand in Britain.