BoE Monetary Policy Committee member Megan Greene stated today that the US tariffs pose “more of a disinflationary risk than an inflationary risk” for the UK.
However, she emphasized that domestic factors also remain a concern, particularly the UK’s limited supply capacity, which continues to drive underlying inflationary pressures.
Greene highlighted that this supply-side constraint is a key reason behind her cautious stance on interest rate cuts.
Addressing questions on central bank independence amid political scrutiny of the Fed, Greene emphasized the importance of maintaining institutional credibility.
“Credibility is the currency of central banks,” she said, adding that independence is a critical component of that credibility.
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