Central BanksMedium•10 November 2026•
1 min read
BoE's Lombardelli Warns of Upside Inflation Risks Driven by Energy Costs
Key Facts
1BoE Deputy Governor Clare Lombardelli stated that the balance of risks to inflation remains tilted to the upside.
2Lombardelli warned that high energy costs could keep inflation levels elevated.
Bank of England BoE Deputy Governor Clare Lombardelli stated that the balance of risks to inflation remains tilted to the upside. FXStreet reported that Lombardelli warned during a speech in London that high energy costs could keep inflation levels elevated.
These comments follow the Bank of England BoE decision to raise interest rates to 4% on November 5, 2026, meeting market expectations. Additionally, the BRC Retail Sales Monitor recorded a 1.1% year-on-year increase on November 10, 2026, slightly below the forecasted 1.2%, highlighting the current economic pressures in the United Kingdom.