"So far, particularly in market pricing, inflation expectations have been pretty stable," Bank of England (BoE) Governor Andrew Bailey said while testifying before parliament on Wednesday, as reported by Reuters.
"Would stress the large amount of uncertainty around the amount of scarring in the economy from pandemic."
"Forward guidance in August was an important signal."
"We are seeing evidence in some areas where the cost of conducting activity has gone up."
"Since August, the most likely path for short-run inflation is higher than in that report."
"Inflation now probably won't quite go negative in short-run."
The GBP/USD pair continues to push lower after these comments and was last seen losing 0.52% on the day at 1.3312.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.