BOE Signals Need for More Than One Hike to Control Inflation

The video discusses the inflation situation in the UK, comparing it to the US, where inflation is diverging from the 2% target. The UK faces wage inflation and import price pressures, while Brexit adds political risk. The Bank of England's interest rate decisions are influenced by these factors. Globally, central banks are affected by the Federal Reserve's policies, but the Bank of England maintains a unique stance due to Brexit and inflation concerns.

What role does Brexit play in the current economic situation according to the text?

How is the Bank of England's approach to monetary policy described in relation to other central banks?