Bailey: US-Iran war has led to higher energy prices, they could be higher stillBailey: Ukranian attacks on Russian refineries also boosting energy pricesTaylor: I judge holding bank rate at moderately restrictive level provides insurance against external risksTaylor: Remain alert to risk of persistent energy-price rises and how they could alter wage and price settingTaylor: Policy would have to respond forcefully but evidence scantGreene: The length of time oil prices has been high worrise me about second round effectsRamsden: Domestic inflation position is relatively benignRamsden: Global inflationary picture is much more upside inflation riskRamsden: UK wages have come in below what we expected before conflictThere is a consensus under all of this and it's that the domestic economy is weak but foreign risks are mounting. Cable is up 12 pips today to 1.3550 and has risen in the past hour on a broadly softer USD. This article was written by Adam Button at investinglive.com.