Bank of England Governor Bailey: Will not rush to make a judgment on interest rate hikes. According to the BBC, Bank of England Governor Bailey stated that in the face of the energy price shock caused by the Iran war, the central bank "will not rush" to make a judgment on interest rate hikes. He pointed out that the rise in oil and gas prices will definitely affect prices, but other factors make interest rate decisions "very, very difficult". Bailey said, "We will not rush to make judgments on these things because there is a lot of uncertainty in this regard, not only about how the situation will develop, but also how it will be transmitted to the UK economy." The IMF lowered its economic growth forecast on Tuesday, warning that if the war escalates and oil prices remain above $100 before 2027, the global economy may face the risk of recession, with the UK being the largest among large wealthy economies to be downgraded.