EY: The Bank of England may not raise interest rates

Golden Ten Data reported on April 15 that Bansi Madhavani, an economist at Ernst & Young, stated that conflicts in the Middle East and the resulting rise in energy prices have brought a stagflation shock to the UK economy. In the coming months, the UK's overall inflation rate is expected to rise by more than 3.0% year-on-year, while economic growth is forecast to be below 1.0%. She also pointed out that a prolonged energy price shock would increase the likelihood of a recession. Therefore, the Bank of England is unlikely to raise interest rates in response to the direct impact of rising energy prices, but may adopt a wait-and-see approach.