BoE's Greene says UK households and businesses are arguably more sensitive to a rise in inflation than in the past
- In a scenario with energy prices resembling the Bank of England’s Scenario B but with greater second-round effects, interest rates would need to rise
- UK households and businesses are arguably more sensitive to rising inflation than in the past
- There is a benefit in acting sooner on rates and that the speed of the response is arguably as important as its size
- The case for hiking rates grows as the conflict continues, with monetary policy tightening over the next few weeks or months potentially necessary
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