Bank of England's chief economist Hugh Peel said that due to the conflict in Iran, sharp fluctuations in energy and commodity prices may continue until 2027, highlighting the risk that inflation will remain high for a long time. Peale warned that the development of the Middle East situation is still “highly uncertain” and difficult to predict; the Bank of England lacks a clear judgment on the duration and scale of the impact of this conflict. Peale warned that monetary policy should “contain the effects of the second round of inflation in advance, rather than wait for it to appear, wait until inflation develops a self-sustaining upward trend, and then respond passively afterwards.”

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