The Aporia
The Aporia
Saker-Clark, H. (2026, September 24). Bank deputy says rate rise ‘increasingly likely’ if energy prices stay high. Evening Standard. https://www.standard.co.uk/business/business-news/bank-of-england-warsaw-inflation-press-association-b1298211.html
Saker-Clark, Henry. “Bank deputy says rate rise ‘increasingly likely’ if energy prices stay high.” Evening Standard, 24 Sept. 2026, https://www.standard.co.uk/business/business-news/bank-of-england-warsaw-inflation-press-association-b1298211.html.
Saker-Clark, Henry. “Bank deputy says rate rise ‘increasingly likely’ if energy prices stay high.” Evening Standard, September 24, 2026. https://www.standard.co.uk/business/business-news/bank-of-england-warsaw-inflation-press-association-b1298211.html.
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A deputy governor at the Bank of England, Ms Lombardelli, stated that an interest rate rise is becoming “increasingly likely” if energy prices stay high. She was part of a six-to-three majority vote on March 2024 to keep UK interest rates at 3.75%. Lombardelli noted that persistent higher energy costs could indirectly affect inflation expectations and wage negotiations, potentially necessitating a rate hike unless there is clear evidence of disinflation or weaker economic activity. The most recent inflation figure rose to a five-month high of 3.1%, further diverging from the Bank’s target of 2%. Lombardelli emphasized that the key issue lies in how the economy interacts with elevated energy prices and their transmission effects, ultimately determining whether interest rates need adjustment.
