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Jonathan Haskel, a member of the Monetary Policy Committee (MPC) of the Bank of England, said on Monday that he stands ready to vote for more stimulus if needed, as reported by Reuters.

Additional takeaways

“Material amount of spare capacity in the UK economy.”

“Near-term risks skewed to the downside.”

“Expecting medium-term supply-side issues from COVID.”

“Expecting a temporary period of subdued inflation pressure.”

“Low energy prices and fiscal policy is weighing on inflation.”

“There is growing evidence that social consumption is hurt by fears of COVID.”

Market reaction

The GBP/USD pair largely ignored those comments and was last seen gaining 0.33% on the day at 1.2975.