DUBROVNIK, Croatia (Reuters) -The Bank of England still expects the ongoing rise in UK inflation to fade but is “not sanguine” about it after price growth proved more persistent than anticipated only a few years ago, BoE monetary policymaker Megan Greene said on Saturday.

Britain suffered a bigger than expected inflation surge in April – even after taking out an error in the data – prompting investors to bet on the BoE slowing its already gradual pace of interest rate cuts.

“Our view is that we can look through it, but of course there’s a pretty big risk,” Greene told a conference in Croatia.

“The last time we had a lot of second round effects. We’re hoping that we won’t have second round effects this time around, but we’re not sanguine about it.”

She argued the recent cost-of-living c

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