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Growth and inflation trends in the UK don’t support the idea that more monetary support is needed at the moment,  Bank of England (BoE) Governor Andrew Bailey noted on Monday, as reported by Reuters.

Additional takeaways

“There are good reasons why the UK doesn’t do average inflation targeting.”

“Sterling has appreciated, that will exert downward pressure on trade prices.”

“I am pretty content we are on appropriate policy setting.”

Market reaction

The GBP/USD pair paid little to no attention to these comments and was last seen trading unchanged on the day at 1.4150.