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BoE's Greene (hawkish dissenter) says bigger risk is not being proactive enough in tackling inflation and not raising rates too soon
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Greene warned against insufficiently proactive inflation control, citing successive supply shocks and second-round effects, and said UK monetary policy was not that restrictive.
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Says: Concerned about successive supply shocks. If we wait until second-round effects materialise, it will be too late. Must be proactive in leaning against second-round effects. UK monetary policy is not that restrictive.
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