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Jonathan Haskel, a member of the Monetary Policy Committee (MPC) of the Bank of England (BoE), said on Friday that risks to activity remain skewed to the downside, as reported by Reuters.

Additional takeaways

“Remain open to the possibility that the economy might need further support to return inflation to the target.”

“Ready to deploy, as and when needed, all the tools available to the MPC.”

“Prudent for banks to start preparations for negative rates regardless of the currently desired policy stance.”

“Seeing a relatively little risk of sustained above-target inflation over the next couple of years.”

“My views on the supply outlook are balanced.”

Market reaction

The GBP/USD pair showed no immediate reaction to these remarks and was last seen losing 0.35% on a daily basis at 1.3847.