Briden: Weakness in UK economy reduces inflation risk, no need for interest rate hike at present

Bank of England Deputy Governor Brendan stated that given the sluggish performance of the UK economy and reduced risk of inflation stickiness, there is currently no need to raise interest rates. Briden has supported maintaining the interest rate at 3.75% in the past three meetings. Briden believes that unless there are signs of mutual feedback on price increases, inflation will fall back to the target level of 2%. In addition, Briden pointed out that the cybersecurity risks brought by the advancement of artificial intelligence models have become a focus of attention for the Bank of England.