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Jonathan Haskel, a member of the Monetary Policy Committee (MPC) of the Bank of England (BoE), said on Wednesday that they expect to see a bounce back in the short term, as reported by Reuters. Haskel further acknowledged that they need to keep in mind the effect of scarring on the medium-term inflation outlook.

“I am not that worried about inflation,” Haskel added. “We are keeping a close eye on supply constraints and shipping difficulties.”

Market reaction

The GBP/USD pair continues to push lower after these comments and was last seen losing 0.55% on the day at 1.4065.

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