Inflation Will Hit UK Harder Than Any Other Major Economy, Bank of England Warns

People walk past the Bank of England during morning rush hour, in London, on July 29, 2021. Henry Nicholls/Reuters

Soaring inflation will hit Britain harder than any other major economy during the current energy crisis, the head of the UK’s central bank has warned.

Andrew Bailey, the governor of the Bank of England (BoE), said that the hit to the UK economy as a result of the energy price shock would likely come earlier and be more intense than for other countries.