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Bank of England (BoE) Governor Andrew Bailey acknowledged on Monday that the economic recovery in the UK is “quite unbalanced,” as reported by Reuters.

“Hopefully, that imbalance will reduce as more services markets reopen from lockdown,” Bailey added. “The risk of high inflation expectations becoming entrenched is not our central view.”

Market reaction

These comments don’t seem to be having a noticeable impact on the British pound’s performance against its major rivals. As of writing, the GBP/USD pair was virtually unchanged on the day at 1.4148.