Shafaqna English– Andrew Bailey, the Governor of the Bank of England, stated on Friday(28 Aug 2026) that he has yet to detect any substantial indication that the recent spike in energy prices—a direct consequence of the ongoing U.S.-Iran geopolitical friction—is generating significant and sustained upward pressure on inflation within the British economy over an extended time horizon.
Speaking to Bloomberg Television against the backdrop of the Federal Reserve’s prestigious Jackson Hole conference in Wyoming, Bailey offered his latest assessment on the inflation dynamics currently at play.
He emphasized that the so-called second-round effects—whereby the initial energy price shock feeds through to broader wage demands and consumer prices—have remained noticeably subdued thus far. In doing so, he reaffirmed the stance he has consistently articulated in recent public statements regarding the inflation outlook.
Source: Reuters