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Bank of England (BoE) Governor Andrew Bailey reiterated on Monday that he doesn’t want to be dismissive about inflation concerns and added they see it as a story about an economy that is recovering, as reported by Reuters.

Additional takeaways

“Data on employment show corner has been turned.”

“There’s every reason to be reasonably confident on the labour market.”

“We will find it easier to deal with debt if we have higher rate of growth.”

“We have to watch inflation very carefully.”

Market reaction

The GBP/USD pair continues to trade flat on the day around mid-1.4100s after these remarks.