Andrew Bailey, the Bank's governor, said he was watching developments "extremely closely" and that there were limits to what could be done to prevent the cost of crude rising if things "got really bad".
In a wide-ranging interview with the Guardian, Bailey held out the prospect of the Bank becoming a "bit more aggressive" in cutting interest rates, provided the news on inflation continued to be good.
Bailey was speaking from his office in Threadneedle Street after this week's Israeli invasion of southern Lebanon and Iran's launch of ballistic missiles in response. Oil prices rose by 3% amid concerns that a deepening conflict might disrupt supplies of crude from the Middle East.
"Geopolitical concerns are very serious," Bailey said. "It's tragic what's going on. There are obviously stresses and the real issue then is how they might interact with some still quite stretched markets in places."
Diese Geschichte stammt aus der October 04, 2024-Ausgabe von The Guardian.
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