Bank of England (BoE) Deputy Governor Ben Broadbent said on Friday that the bias towards policy easing at the BoE is less pronounced now, as reported by Reuters.
“We need clear evidence of a sustainable return of inflation to target before we start to remove policy accommodation,” Broadbent added. “Downside risks are less pronounced now.”
Market reaction
These comments don’t seem to be helping the British pound gather strength against its rivals. As of writing, the GBP/USD pair, which touched a daily high of 1.3929, was up 0.05% on the day at 1.3892.
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