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BoE's Breeden says impact on UK inflation from US tariffs not clear cut

ReutersApr 10, 2025 1:20 PM

- Bank of England Deputy Governor Sarah Breeden said the impact on UK inflation from U.S. President Donald Trump's tariffs - and the implications for interest rates - remained unclear even if the new U.S policies are likely to lower growth.

"Overall, tariffs are likely to lower UK growth," Breeden told an MNI Livestreamed Connect event.

"Expenditure switching by US consumers away from UK goods, combined with weaker global demand due to potential counter tariffs and supply chain disruptions would be expected to weigh on UK activity," she said.

"The impact on inflation, however, is not that clear cut."

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