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US trade tariffs would pose risk to economic growth, top BoE official warns

Clare Lombardelli says frictions would dent productivity as she voices concerns over domestic inflation
Clare Lombardelli: ‘When you are seeing services inflation — that is a big part of the economy — at those sorts of levels, that does suggest we have further to go.’

Donald Trump’s proposed trade tariffs would pose a risk to economic growth in countries including the UK, a top Bank of England official has warned, as she voiced concerns about persistent domestic inflation.

Clare Lombardelli told the Financial Times that uncertainty about the US president-elect’s trade policies could weigh on growth in the short term and that increased trade frictions would dent productivity in the longer term. 

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