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