According to CoinMeta, Deputy Governor of the Bank of England, Andrew Lambsdorff, stated that if "upward pressure on inflation" continues to accumulate, he would be prepared to support interest rate hikes. This statement echoes the concerns raised last week by two other deputy governors of the Bank of England, Andrew Briden and Chris Bullard, that rising energy prices could trigger a spiral increase in wages and prices. Earlier this month, the Bank of England's Monetary Policy Committee decided to maintain interest rates at 3.75% with a vote of 6 to 3, but warned that the inflation rate could peak around 4%, which is significantly higher than the bank's previous forecasts and has reached a level that requires the central bank to take action. Investors expect the Bank of England to raise interest rates by 25 basis points at its November meeting. Lambsdorff said that he remains concerned about the threat posed to prices by high energy costs resulting from the Iran war and will be looking for signs of a second round effect in domestic food prices, as well as the results of a survey on upcoming corporate salary adjustments.