Ding Gela: Winter energy situation and wage negotiations are key to assessing inflation risks in the UK

Bank of England monetary policy commissioner Ding Gla said that the long-term inflationary pressure caused by the Iran war on the UK will become clearer in the coming winter months. Ding Gela pointed out that the UK has not experienced widespread price increases similar to those caused by the 2022 Russia Ukraine war, and the job market is even weaker than at that time. Ding Gela believes that the key points lie in the winter energy situation, the results of wage negotiations, and the implementation of financial tightening policies, and the relevant signals should become clear by the end of 2026. Ding Gela refuted the view that early interest rate hikes are crucial for maintaining the credibility of the Bank of England in combating inflation. (Source: Jin Shi)