Bank of England (BoE) Deputy Governor Dave Ramsden said in an interview with The Times that the central bank must stop the risk of high inflation becoming embedded in the economy. He added there were still signs of stubbornly high inflation.
Ramsden mentioned there was a greater risk of the BoE doing too little rather than too much.
Market reaction
Ramsden comments had no impact so far on the Pound. GBP/USD is trading at a daily high late on Friday near the 1.2440 area, on its way to a modest daily gain. EUR/GBP stays flat around 0.8830.
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