In this speech, Mr Conway will explore how the recent Middle East conflict and resulting oil shock are likely to influence inflation over the coming years, even if the immediate conflict has been resolved. He will also share findings from our recent research on how rising costs shape business and household inflation expectations, and how these expectations influence price-setting behaviour across the economy.
This speech will be part of an economic update following the 8 July Monetary Policy Review. There will be no new policy announcements.