BoE’s Dhingra: US tariffs to put downward pressure on UK inflation – Reuters | FXStreet

Bank of England (BoE) Monetary Policy Committee (MPC) member Swati Dhingra said in a speech at a research conference hosted by Ireland’s central bank on Thursday that the United States (US) tariff policy is a major drag on global growth and prices.

Additional Comments

The primary transmission channel of tariffs to the UK in 2025 come through weaker demand, as tariffs act as a drag on global growth.

Tariffs means lower overall growth – and some downward pressure on prices in the medium term.

Market reaction

The GBP/USD pair has faced slight selling pressure after BoE Dhingra’s comments, dropping to near 1.3340 at the time of writing.