BoE MPC member Greene: Successive Inflation Waves Are Changing Behaviour

The significance lies less in the observation itself than in its source: a sitting MPC member framing inflation as behaviour-altering suggests the committee may be treating second-round effects as a live policy question rather than a transient one. That matters for rate expectations, sterling and rate-sensitive crypto and RWA yield products priced off the front end. The open question is whether Greene's colleagues echo this framing in upcoming communication, since the remarks as published are notably unspecific about which behaviours or expectation measures are being watched.