The Bank of England should not continue to rely on high ​bond yields to do its job ‌of taming inflation, Monetary Policy Committee member Megan Greene has said.

“It’s quite dangerous to ​just assume the markets will do ​your work for you …. At some point, ⁠you need to put your money ​where your mouth is,” Greene said at ​a conference in Cape Town hosted by South Africa’s STANLIB Asset Management.

Greene voted in June, July ​and September for the central bank ​to raise interest rates by a quarter-point to 4 per cent. ‌Financial ⁠markets expect a majority of the BoE’s Monetary Policy Committee to back a rate rise to 4 per cent at their next ​meeting in ​early November.

BoE ⁠Governor Andrew Bailey has argued that a sharp rise in ​market borrowing costs and mortgage rates ​after ⁠the start of the US-Iran war has given the BoE time to assess ⁠if ​it needs to raise its ​own interest rates in response to higher energy prices.