Bank of England’s Andy Haldane warns over UK inflation risk

Chief economist says Britain could face nasty surprise' in wake of US rise

Inflation could rise well beyond the Bank of England's expectations, according to its chief economist, Andy Haldane, raising the chances of a nasty surprise" in the form of a sharp interest rate hike.

Speaking as US inflation reached 4.2%, its highest level since 2008, Haldane said the UK's own rate of price rises was increasingly likely to catch up.

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